The Federal Board of Revenue (FBR) has announced that it received 4.82 million tax returns by October 26 for the tax year 2024, reflecting a substantial increase compared to the previous fiscal year.
In fiscal year 2023, only 2.407 million income tax returns were filed, indicating that the number of returns has effectively doubled.
Additionally, the FBR disclosed that out of the total returns submitted for the last fiscal year, 1.82 million filers reported nil income and paid no tax.
Specifically, 869,929 individuals submitted nil returns in fiscal year 2023.
In a related development, the FBR has successfully obtained data on 195,000 individuals from the elite class, which includes details about their bank accounts, property holdings, and luxury vehicle registrations.
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FBR aiming to achieve tax collection target without imposing new taxes
To further enhance its efforts, the FBR and NADRA have agreed to strengthen their cooperation and facilitate data exchange.
