Over 86% Increase in Income Tax Returns Filed for 2024
Islamabad:The Federal Board of Revenue (FBR) has reported a significant increase of over 86% in the number of income tax returns filed for the year 2024. As of September 30, a total of 3,648,216 individuals submitted their tax returns, along with record tax collection exceeding PKR 95.7 billion.
According to FBR, this represents an increase of 1,686,614 returns compared to the same period last year. Since July 2023, 1,165,730 new individuals have registered for tax filing. Notably, over 1,326,000 individuals reported zero taxable income this year.
Statistics reveal that out of the 1,165,730 new registrants, 340,473 individuals registered on or after July 1, 2024. In the tax year 2023, 3,368,000 individuals reported zero income along with their returns.
Overall, the total number of tax returns for the tax year 2023 has been recorded at over 6,236,000, a significant increase from the previous year, when 1,951,602 individuals had filed their tax returns by September 30.
