The Federal Board of Revenue (FBR) has not just met, but surpassed its revenue collection target for July 2024 with remarkable efficiency. By provisionally gathering over Rs659 billion, which is Rs3 billion more than the assigned target of Rs656 billion, the FBR has demonstrated its capability to meet the revenue collection target for the first month of the current fiscal year (2024-25).

Comparing it with the previous year, the FBR has shown significant growth in revenue collection. In July 2024, it collected over Rs659 billion, reflecting an increase of Rs117 billion from the Rs542 billion collected in July 2023. The breakdown of the collections includes Rs300.2 billion from income tax, Rs307.9 billion from sales tax, Rs91.7 billion from customs duty, and Rs37.4 billion from Federal Excise Duty (FED) for July 2024. The gross tax collection for the month totalled Rs737.2 billion, and after the payment of refunds amounting to Rs77.9 billion, the net tax collection stood at Rs659.2 billion during this period.