FBR beats revised tax target by Rs21 billion

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ISLAMABAD: The Federal Board of Revenue (FBR) said on Tuesday that it had collected over Rs13 trillion in FY26, exceeding the downwardly revised target of Rs12.983tr by over Rs21 billion, mainly due to stronger-than-expected income tax receipts.

The target was achieved largely because of higher-than-anticipated income tax collection in June. The provisional revenue also exceeded the Rs12.957tr benchmark agreed with the International Monetary Fund (IMF) in case the FBR failed to meet the revised target.

Collections rose 11 per cent to Rs13.004tr in FY26 from Rs11.745tr in FY25. Income tax revenue exceeded the revised target, while sales tax, customs duty and federal excise duty (FED) collection fell short of their respective targets.

Higher-than-expected receipts from the petroleum development levy (PDL) also helped offset the shortfall from the original budgetary target. The levy generated Rs1.564tr in FY26 against a projected target of Rs1.468tr, exceeding expectations by Rs96bn.