Islamabad, Jan 28: The Federal Board of Revenue (FBR) is projected to miss its tax collection target by over Rs. 435 billion for the first seven months of the current fiscal year. This shortfall has raised concerns about the agency’s ability to meet its annual collection goals. For January alone, FBR is expected to fall short of its target of Rs. 956 billion by approximately Rs. 50 billion.
To date, FBR has managed to collect roughly Rs. 700 billion in taxes. However, with just a few days remaining in the month, the board anticipates an additional Rs. 200 billion in the final three days, which would bring the total collection to Rs. 900 billion. Despite this, there remains a significant gap of Rs. 56 billion, further complicating the task of meeting the set targets.
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The FBR is tasked with collecting Rs. 3,000 billion in taxes during the third quarter of the ongoing fiscal year. Following the underperformance in January, the board is aiming for Rs. 950 billion in tax collections for February and approximately Rs. 1,200 billion in March. With these ambitious targets ahead, FBR will need to significantly ramp up its efforts in the coming months to bridge the gap and stay on track with its fiscal obligations.
