FBR beats July revenue target by Rs40bn
ISLAMABAD: The Federal Board of Revenue (FBR) said on Friday that it had collected Rs820 billion in the first month of the fiscal year 2026-27, exceeding the target of Rs780 billion by Rs40 billion, mainly due to higher than expected sales tax collection. The first month target was achieved largely because of higher-than-anticipated sales tax collection, federal excise duty and customs. However,…
The Federal Board of Revenue (FBR) collected Rs820 billion in July 2026-27, surpassing the target of Rs780 billion by Rs40 billion, primarily due to higher-than-expected sales tax collection, federal excise duty, and customs revenue. The FBR's total annual revenue collection target for the fiscal year 2027 is projected at Rs15.264 trillion.
Despite missing the income tax collection target, the government has offset the shortfall with higher-than-anticipated receipts from the Petroleum Development Levy (PDL), driven by historically high levy rates and increased fuel prices due to inflation. Sales tax collection grew by 18%, customs duty collection by 1%, and federal excise duty collection by 3% compared to the same period last year.
The FBR issued Rs99 billion in refunds and rebates to taxpayers in July 2026-27, up from Rs85 billion the previous year.
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