FBR collects Rs659bn tax revenue in July 2024

MG News | July 31, 2024 at 11:16 PM GMT+05:00

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July 31, 2024 (MLN): The Federal Board of Revenue (FBR) has successfully achieved the revenue target for July 2024 with a collection of Rs659.2 billion, it said in a post on X.

That compares with the set target of Rs656bn for the month, and Rs538bn collected in the same month of last year.

The collection comes despite the issuance of refunds amounting to Rs.77.9bn, FBR said.

During this period, Rs300.2bn was collected under the head of Income Tax, Rs307.9bn under the head of Sales Tax, Rs37.4bn under the head of Federal Excise Duty, and Rs91.7bn under the head of Customs Duty.

"FBR has exhibited a promising start by achieving the CFY’s first month’s revenue collection target," it said.

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