The Federal Income Board (FBR) has reported a record collection of fiscal income from RS872 billion in January, marking an increase of 29 percent compared to the same month last year, when RS677 billion were raised.
This achievement occurs despite a 10 percent reduction in interest rates and a 22 percent decrease in inflation of the previous year.
The FBR also highlighted significant growth in various tax categories, with an increase in income tax revenues by 28 percent, increased sales tax revenue by 29 percent and tax collection Federal specials in 34 percent.
Customs duties also saw a substantial impulse, which increased by 30 percent, indicating a resurgence of economic activity and growth in the country.
This marks the first time this year that customs tasks have registered such a significant increase.
The strong income performance in January reflects the efforts of the FBR to strengthen tax collection and the general recovery of the economy.
However, it reflects a deficit of 85 billion rupees for January 2025a the compilation of Totasl taxes of 872 billion rupees, did not reach the objective of RS 957 billion.
In December 2024, the Tax Department raised RS 1,326 billion, losing the objective of RS 1,373 billion for that month.
The International Monetary Fund (IMF) evaluates the collection of taxes quarterly instead of monthly, with the objective of January to March 2025 established at RS3,150 billion. They expect tax collection to improve in March as economic activity increases.
