FBR reports 76% increase in Tax returns filings for 2024

The Federal Board of Revenue (FBR) has released updated figures on tax returns for 2024, revealing a significant surge. As of November 6, 5.215 million tax returns have been filed, marking a 76% increase from last year’s 2.959 million returns.

For fiscal year 2024 alone, 2.051 million returns have been recorded, compared to 1.036 million new returns in the same period last year. The FBR had previously anticipated an additional 3.692 million returns for the year.

In line with these efforts, over 132 billion new tax returns have been processed, a substantial rise from the prior year’s total of around 77 billion and 1.3 crore returns.