FBR exceeds Q1 collection target

Business Recorder reported that the FBR beat its first-quarter revenue goal for fiscal year 2026-27, provisionally bringing in Rs3,083.5 billion against a Rs3,053 billion target. That was achieved even though the government abolished super tax, lowered property withholding and cut salaried income tax rates under the Finance Act 2026. Net collection rose about seven percent from Rs2,889 billion a year earlier.

Net collection in September reached Rs1,360.7 billion, about 11 percent above the Rs1,229 billion of a year earlier and just over its Rs1,343 billion monthly goal. The quarter's refunds grew 28 percent to Rs203.2 billion, with sales tax refunds rising from Rs112 billion to Rs130 billion and income tax refunds from Rs32 billion to Rs51 billion. Income tax collection grew about five percent to Rs1,437 billion, though it remained slightly under its head-wise target.

Sales tax was the main driver, with net collection up 11 percent to Rs1,137 billion, and officials credited enforcement and digital monitoring. The full-year goal is Rs15.264 trillion, and the first quarter accounts for roughly a fifth of it. These numbers remain provisional until the first-quarter accounts are closed, officials said.