The Federal Board of Revenue (FBR) achieved a record-breaking tax collection last month.
As per FBR reports, tax revenue in January reached 872 billion rupees, marking a 29% increase compared to the same period last year when collections stood at 677 billion rupees.
This substantial rise in revenue was recorded despite a 10% reduction in interest rates and a 22% decrease in inflation compared to the previous year.
The FBR also noted that income tax revenue grew by 28%, while sales tax revenue saw a 29% increase in January.
Additionally, Federal Excise Duty collections surged by 34%, and Customs Duties rose by 30% last month.
For the first time this year, the sharp increase in Customs Duties revenue indicates a revival of economic activity and growth in the country.
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