FBR exceeds July tax collection target by Rs40bn

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed its tax collection target for July 2026, collecting a net revenue of Rs820 billion against the assigned target of Rs780 billion, according to provisional figures released on Saturday.

The provisional data shows that the FBR achieved 105 percent of its monthly target during the first month of the current fiscal year, marking a strong start to the fiscal year.

According to the figures, the tax authority collected gross revenue of Rs918 billion in July, out of which Rs98 billion was refunded to taxpayers, resulting in a net collection of Rs820 billion.

Under the income tax head, the FBR had set a target of Rs323 billion but recorded a net collection of Rs308 billion. Gross income tax receipts stood at Rs343 billion, while Rs35 billion was paid out in refunds.

The FBR collected Rs413 billion in sales tax during July and issued Rs53 billion in sales tax refunds during the month.

Revenue from the Federal Excise Duty (FED) reached Rs48 billion, slightly exceeding the target of Rs47 billion.

Meanwhile, customs duty collections amounted to Rs115 billion, surpassing the monthly target of Rs105 billion.

FBR announces nationwide portal shutdown from Aug 8 to Aug 10

Meanwhile, the FBR system will be temporarily shut down from August 8 (12:30 AM) to August 10 (5:00 PM) for scheduled maintenance, ARY News reported.

According to the FBR, the IRIS portal will be completely unavailable during this period. Additionally, SWEEPS (Sales Tax Withholding and Electronic Evading Prevention System) and POS registration services will be offline.

Digital invoicing, payment processing, and other linked online services will also remain suspended.

Taxpayers will be unable to access any FBR system capabilities throughout the two-day maintenance window.

The revenue authority has advised taxpayers to complete all urgent tax returns, payments, registrations, and related transactions ahead of the scheduled outage to avoid inconvenience.