Islamabad: The Federal Board of Revenue (FBR) has provisionally collected over PKR 659 billion in July 2024, exceeding the assigned target of PKR. 656 billion. This achievement marks a strong start for the first month of the fiscal year 2024-25 (FY25), as reported on August 1.
As per details, in a significant year-over-year increase, the FBR collected PKR. 659 billion in July 2024, compared to PKR. 542 billion in July 2023, reflecting an impressive growth of PKR. 117 billion.
Detailed data from the FBR reveals that income tax collection for July 2024 stood at PKR. 300.2 billion. Sales tax collection amounted to PKR. 307.9 billion, while customs duty brought in PKR. 91.7 billion. Additionally, the Federal Excise Duty (FED) collection reached PKR. 37.4 billion.
The gross tax collection for July 2024 was Rs. 737.2 billion. After refund payments totaling Rs. 77.9 billion, the net tax collection was recorded at Rs. 659.2 billion.
