Islamabad: The Federal Board of Revenue (FBR) has failed to achieve the tax collection targets set for the first four months (July-October) and last month (October 2024) of the current financial year 2024-25.
The Federal Board of Revenue has revealed a revenue shortfall of Rs 111 billion in the last month (October) and Rs 191 billion in the first four months of the current financial year 2024-25.
While earlier FBR could not achieve the target of tax collections even in the first quarter, the shortfall has increased to Rs 191 billion in four months.
The shortfall has raised the prospect of a mini-budget to raise additional revenue in the coming months as per the terms agreed with the IMF, which is expected to exacerbate public hardship.
The Federal Board of Revenue has collected a total of 879 billion rupees in interim tax in the last month (October 2024).
Which is 111 billion rupees less than the tax collection target of 990 billion rupees set for October 2024.
The Federal Board of Revenue (FBR) has made a total interim net tax collection of Rs 3441 billion in the first four months (July to October) of the current financial year 2024-25.
Which is 191 billion rupees less than the tax collection target of 3632 billion rupees set for the first four months of this fiscal year.
