The Federal Board of Revenue (FBR) has provisionally collected over Rs. 659 billion in July 2024, surpassing the assigned target of Rs. 656 billion. This achievement marks the successful attainment of the revenue collection target for the first month of the fiscal year 2024-25 (FY25).
Compared to Rs. 542 billion collected in July 2023, the FBR has shown an increase of Rs. 117 billion. According to FBR data, the income tax collection for July 2024 was Rs. 300.2 billion, sales tax collection was Rs. 307.9 billion, customs duty collection was Rs. 91.7 billion, and Federal Excise Duty (FED) collection was Rs. 37.4 billion.
The gross tax collection for July 2024 stood at Rs. 737.2 billion. After refund payments of Rs. 77.9 billion, the net tax collection was Rs. 659.2 billion.
