FBR Tax Revenue Shortfall Increases to Rs. 192 Billion in 4 Months

The Federal Board of Revenue (FBR) has collected Rs. 878 billion during October 2024 against the assigned target of Rs. 980 billion, reflecting a shortfall of Rs. 102 billion. FBR has collected Rs. 3,440 billion during the first four months of 2024-25 against the assigned target of Rs. 3,636 billion set for July-October of the current fiscal year, reflecting a shortfall of Rs. 196 billion. This is the second month in the current fiscal year that tax authorities have failed to achieve their monthly tax target. The FBR is expecting a shortfall of Rs. 230 billion during the second quarter (October-December) 2024-25. It is pertinent to note that the Pakistani government has also agreed with the International Monetary Fund (IMF) that it will take seven new taxation measures during 2024-25 in case the revenue collection falls short of the projected target by 1 percent during the current fiscal year.