ISLAMABAD: The Federal Board of Revenue (FBR) has registered a 2.4 percent growth in sales tax collections on an annual basis for the preceding fiscal year.
Based on figures from the Ministry of Finance, the FBR garnered 2.592 trillion rupees in sales tax revenue during the fiscal year 2023, reflecting a 2.4 percent increase compared to fiscal year 2022. Substantial sums were amassed in revenue.
Additionally, it has been observed that Pakistan’s exports to Saudi Arabia experienced a surge in the last fiscal year, accompanied by a reduction in imports.
Data released by the State Bank of Pakistan in this context indicates that Pakistan’s exports to Saudi Arabia in the fiscal year 2023 reached 503.40 million dollars, marking a 20% uptick from the fiscal year 2022.
