Federal Board of Revenue (FBR) has collected gross revenues of Rs1,588 billion in over two months.
According to the FBR, the board collected Rs1,588 billion in total revenue for July and August of the current fiscal year, surpassing the target of Rs1,554 billion.
In terms of income tax, the FBR collected Rs593 billion, compared to Rs437 billion during the same period in 2023, showing a 36 per cent increase in this category.
Sales tax collections amounted to Rs314 billion, indicating a healthy 40 per cent year-on-year increase.
In US dollar terms, imports in the country have declined by 2.2 per cent in August 2024 as compared to August 2023. Similarly, the imports during August 2024 in PKR value also showed a decline of 7 per cent as compared to August last year.
Moreover, the import of high duty items such as vehicles, home appliances, as well as miscellaneous consumer goods such as garments, fabrics, footwear etc have reduced significantly, changing the import mix.
