Islamabad, Pakistan – The Federal Board of Revenue (FBR) has received a record number of income tax returns for the tax year 2024. As of September 17, 2024, the FBR has received 1.772 million returns, representing an increase of 844,748 returns compared to the previous year.
The FBR has also collected Rs. 17.2 million in tax through these returns, a significant increase from the Rs. 3.875 million collected in FY2023. This increase is attributed to the withdrawal of exemptions and the end of minimum tax. Pro Pakistani
The FBR has received 195,194 income tax returns from new filers this year. The FBR has warned that it will not extend the deadline for filing returns beyond September 30, 2024.
The increase in income tax returns is a positive sign for Pakistan’s economy and indicates growing tax compliance.
