Federal Board of Revenue Surpasses Tax Collection Target for July

Islamabad:The Federal Board of Revenue (FBR) has reported exceeding its tax collection target for the first month of the fiscal year, July.

According to FBR, in July, the revenue collected amounted to 659.2 billion rupees, surpassing the target of 656 billion rupees. Additionally, refunds totaling 77.9 billion rupees were issued during the same period.

The FBR’s announcement detailed the breakdown of collections: 300.2 billion rupees from income tax, 307.9 billion rupees from sales tax, 37.4 billion rupees from federal excise duty, and 91.7 billion rupees from customs duties.