Crypto
Loading...
Breaking News:
Net Metering Electricity Generation Surges Over 100% in September
U.S. Imported Livestock Arrive in Pakistan with SIFC Support
Pakistan Textile Council Calls for Single Gas Tariff, End to Cross-Subsidies
U.S. Cotton Exporters Urge Pakistan to End Port-Side Fumigation Requirement
Gold and Silver Prices Surge Sharply in Global and Local Markets

FBR Reports Strong Growth in Domestic & Import Sales Tax Collections in FY 2024-25

During FY 2024–25, around 57.3% of total domestic sales tax revenue came from fifteen major sectors, including electricity, petroleum products, sugar, cement, and cotton yarn, according to the latest data released by the Federal Board of Revenue (FBR).

FBR’s updated statistics show that domestic sales tax net collection reached Rs. 1,619.5 billion, reflecting a significant 32.4% increase compared to Rs. 1,222.9 billion in the previous fiscal year. This translates into an additional revenue of Rs. 396.6 billion year-on-year.

The electricity sector emerged as the top contributor with 22.8% of total domestic sales tax revenue, mainly due to increased electricity tariffs. In contrast, the share of petroleum products declined from 6.9% last year to 2.6% this year. All major revenue-generating items recorded positive growth—except cigarettes and petroleum products, which saw a decline in the current fiscal year.

Automobile Sector Growth

  • Sales tax collection from motor cars increased by a remarkable 158.8%, driven by higher production, which rose from 79,594 units in FY 2023–24 to 111,402 units in FY 2024–25.
  • Car sales also surged from 81,579 units to 112,203 units, supporting strong revenue growth.
  • Motorcycle sales tax collection recorded a 136.2% increase, with production rising from 1,150,090 units to 1,514,718 units, and sales increasing from 1,150,112 units to 1,518,752 units.

This boost in production and sales volume resulted in substantial growth in sales tax revenue from the automotive sector.

Import Stage Sales Tax Performance

FBR data also reveals that fifteen major imported items contributed 71.3% to total import-stage sales tax collection in FY 2024–25.

Sales tax on imports remained a critical component of federal revenue, with net collection reaching Rs. 2,281.9 billion, up 22.4% from Rs. 1,863.9 billion last year.

Petroleum products remained the largest source of import-stage sales tax, contributing 13.8% of the total. Revenue from petroleum products at the import level reached Rs. 315.1 billion, slightly higher than Rs. 309.6 billion collected in FY 2023–24.

Leave a Reply

Your email address will not be published. Required fields are marked *