The Federal Board of Revenue (FBR) has exceeded the tax collection target for the month of Sept 2023 by Rs35 billion.

The FBR maintained that the tax collection target in Sept was set at Rs799 billion, but on the contrary, it collected Rs834 billion.

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Similarly, the revenue collection authority said that tax collection for the first quarter of fiscal year 2023-24 also exceeded the target of Rs1,977 billion as it received Rs2,041 billion, reflecting an increase of Rs64.

Sources said that there had been an increase in the number of total tax returns in September. Almost 1,890,000 tax returns were filed with the FBR till Sept 30, whereas last year, the figure stood at 1,875,000 during the same period.