FBR recently announced a major rise in tax returns filed for 2024. By November 6, a total of 5.215 million returns had been submitted, showing a 76% increase compared to last year’s figure of 2.959 million.
For the current fiscal year alone, 2.051 million new tax returns were filed, up from 1.036 million in the same period last year. The FBR had originally set a goal of receiving 3.692 million additional returns for this fiscal year, and it appears that they are on track to meet or even exceed this target.
Additionally, over 132 billion new tax-related returns have been processed, which is a considerable jump from last year’s total of about 77 billion and 13 million returns. This increase highlights the FBR’s progress in encouraging tax compliance across the country.
This growth in tax returns reflects both the FBR’s active measures to promote tax awareness and the increased response from citizens and businesses. With a significant boost in both the number of returns filed and the amount processed, the FBR’s latest numbers underscore Pakistan’s efforts to enhance tax collection and improve its fiscal outlook.
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