FBR Tax Target Beaten: Revenue Machine Defies IMF Benchmarks with Record Rs13 Trillion FY26 Collection

ISLAMABAD — Ending the fiscal year on a massive high, the Federal Board of Revenue (FBR) officially announced that it has crossed its downwardly revised tax collection target for FY25-26 by over Rs21 billion. Driven by a massive, stronger-than-expected wave of corporate and direct income tax receipts flowing in during the final weeks of June, the provisional revenue reached a record Rs13.004 trillion. This collection comfortably clears the Rs12.957 trillion floor agreed upon with the International Monetary Fund (IMF). While sales tax and federal excise duties faced minor structural shortfalls, a staggering 14% year-on-year growth in direct income tax collection—climbing to Rs6.579 trillion—anchored the state’s macro-balance sheet.