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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 target of income tax collection in July FY27 was missed.
In FY26, the FBR had collected over Rs13 trillion, exceeding the revised target of Rs12.983tr by over Rs21bn. Collections rose eight per cent to Rs820bn in July FY27 from Rs756bn over the same month last year. Sales tax, customs duty and federal excise duty (FED) collection exceeded the target while income tax fell short of its target.
The government has projected an annual revenue collection target of Rs15.264tr for FY27. The FBR issued Rs99bn in refunds and rebates to taxpayers during July FY27, up from Rs85bn a year earlier, representing an increase of Rs14bn.
