FBR Misses January’s Collection Target by Rs. 9 Billion

The Federal Board of Revenue (FBR) has suffered a shortfall of Rs. 9 billion during January 2024, as the provisional tax collection stood at Rs. 681 billion during January 2024 against the monthly target of Rs. 690 billion. However, the FBR met the overall tax collection target for the first seven months of the current fiscal year. The FBR has provisionally collected Rs. 5,150 billion during the first seven months (July-January) 2023-24 (FY24) against the assigned target of Rs. 5,115 billion, reflecting an increase of Rs. 35 billion. According to the provisional data released by the FBR on Wednesday, the FBR has collected Rs. 5,150 billion during July-January FY24 against Rs. 3,973 billion during the corresponding months of the previous fiscal year, reflecting an increase of Rs. 1,177 billion. FBR’s collection during January 2024 was Rs. 136 billion higher than the collection of Rs. 545 billion during the same month of the previous fiscal year.