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The fiscal year 2022-23: Tax target raised to Rs7.64trn

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Asim Ahmad Thursday said the government would review the taxation measures of Rs170 billion taken through the Finance (Supplementary) Bill, 2023 in the coming budget, and the FBR’s annual target has been increased from Rs7,470 billion to Rs7,640 billion for 2022-23.
After the Senate Standing Committee on Finance meeting held at the Parliament House on Thursday to review the Finance (Supplementary) Bill, 2023, he informed Business Recorder that the revenue collection target had been increased after additional revenue measures of Rs170 billion. The IMF is satisfied with the FBR’s revenue collection performance. Still, Ahmad said we have taken measurements of Rs170 billion to bridge the deficit gap in other areas of the economy.
The Senate Standing Committee on Finance deliberated and approved the recommendations on the money bill, which aimed to amend the laws relating to taxes and duties.

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