Islamabad, Aug 4: The Federal Board of Revenue (FBR) exceeded its designated target of PKR 656 billion by provisionally collecting over PKR 659 billion. According to reports on August 1, this accomplishment represents a solid beginning for the first month of the fiscal year 2024–25 (FY25).
According to specifics, the FBR collected PKR. 659 billion in July 2024, a notable rise of PKR. 117 billion year over year, as opposed to PKR. 542 billion in July 2023. According to comprehensive data from the FBR, PKR 300.2 billion in income tax was collected in July of 2024. Customs duties brought in PKR 91.7 billion, while sales tax collection was PKR 307.9 billion. Additionally, PKR 37.4 billion was collected through Federal Excise Duty (FED).
In July 2024, gross tax revenue amounted to Rs. 737.2 billion. The net tax collection was reported at Rs. 659.2 billion after refund payments of Rs. 77.9 billion.
