ISLAMABAD: Amid negotiating a workable deal with business tycoons under the supervision of the Special Investment Facilitation Council (SIFC), the Federal Board of Revenue (FBR) has surpassed its monthly tax collection target for July 2025 with a margin of Rs6.3 billion.
The FBR has collected Rs754.4 billion net provisional revenues in July 2025 against the set target of Rs748.1 billion envisaged for the first month of the current fiscal year.
In a major development, the business representatives held a marathon session with the government high-ups, including Minister of State for Finance and Revenue Bilal Azhar Kiyani, and Chairman FBR Rashid Mehmood Langrial participated in it virtually under the supervision of SIFC, jointly run by the civilian and military’s top brass in order to resolve their demands arising from the Finance Act 2025. The session under the umbrella of SIFC was arranged on the instruction of Field Marshal Asim Munir.
“The FBR has agreed to issue explanatory notes to resolve issues of businessmen, involving representatives of businessmen and chambers in the committee at the initial stage of probe and then allowing arrest under 37AA of the Sales Tax on frauds,” said the official. The FBR is expected to issue explanatory notes within the next few days.
“We have been able to resolve the burning issues confronting the business community post budget after series of marathon sessions. We concluded it midnight today after 12 hours of negotiations at SIFC in the presence of Minister of State for Finance Bilal Azhar Kiyani, FBR, and SIFC officials. The FBR will soon issue notifications to this effect so as to facilitate the economic activities in the country. We thank all those who contributed to make this happen in a smooth and amicable way.” It was the message forwarded by businessmen leaders to different trade bodies groups on Thursday night.
According to provisional revenue collection in July 2025, the FBR collected Rs323.6 billion in shape of Income Tax, Rs352.7 billion as Sales Tax, Rs46.2 billion as Federal Excise Duty and Rs113 billion as Customs Duty. The gross collection fetched Rs835.5 billion and the FBR paid out Rs81.1 billion refunds so the net revenue collection stood at Rs754.4 billion in July 2025.
The FBR had envisaged tax collection target of Rs14.131 trillion in the current fiscal year against a collection of Rs11.7 trillion materialised in the last financial year.
In line with the IMF agreement, the FBR has envisaged a tax collection target of Rs3.08 trillion for the first quarter (July-September) period of the current fiscal year 2025-26. For August 2025, the FBR has fixed the tax collection target of Rs950 billion and Rs1,385 billion for September 2025.