FBR Collects Record Tax Revenue of 872 Billion Rupees in January 2025
Islamabad:The Federal Board of Revenue (FBR) has collected a record 872 billion rupees in tax revenues for January 2025. The target for tax collection in January 2025 was set at 956 billion rupees.
According to provisional data released by the FBR, tax collection in January 2025 showed a 29% increase compared to the same month last year, when the revenue collected stood at 677 billion rupees. Despite a 10% decrease in interest rates and a 22% drop in inflation compared to the previous year, tax collection has seen a notable rise.
The FBR reported a 28% increase in income tax revenues and a 29% rise in sales tax revenues for January. Federal Excise Duty collections surged by 34%, while customs duties saw a 30% increase.
The tax collections for January represent one-third of the total revenue target for the third quarter of the fiscal year. Tax authorities remain committed to meeting the assigned target for the quarter. Notably, customs duties saw a significant increase for the first time this year, reflecting the recovery and growth of economic activities in the country.
The FBR also highlighted that the overall tax collection in the first seven months of the current fiscal year has increased by 26% compared to the same period last year.
The FBR spokesperson mentioned that despite economic challenges, the 26% increase in overall tax collections is a positive development. The growth in tax revenue, excluding the effects of inflation and economic contraction, indicates progress toward addressing the country’s long-standing fiscal issues.
Earlier, the FBR released data up to January 30, 2025, reporting tax collections of 800 billion rupees by that date. The FBR aims to collect 3,150 billion rupees in taxes from July to March, with expectations of improved collections in March due to an increase in economic activities.
In December 2024, the FBR collected 1,330 billion rupees in taxes. However, there was a shortfall of 384 billion rupees in tax revenues during the first half of the fiscal year (July-December 2024), as the target for tax collection was set at 6,008 billion rupees, and the actual revenue collected was 5,624 billion rupees.
