ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs3,484 bln tax during first five months of FY2023-24, it emerged Friday.

FBR spokesperson Afaq Qureshi said, in November 2023, the FBR collected Rs736 billion. This reflects a growth of 38% YoY and 4% MoM, despite the issuance of 54% higher refunds than the corresponding period of the previous year.

In the recently held meeting between the International Monetary Fund and Pakistan officials for the review under SBA, the performance of the FBR was lauded by the international lender.

In October it emerged that the Federal Bureau of Revenue (FBR) to initiate the audit of income tax returns of retailers and real estate tax filers.

The Federal Board of Revenue warned retailers and real estate tax filers to avoid mistakes in sales tax filings, as the revenue board is set to audit the income tax and sales tax returns.