Islamabad, Oct 29: FBR Faces Rs. 90 Billion Revenue Shortfall in October
According to FBR sources, the objective for this month is Rs. 980 billion, which the regulator is now unable to see. In the first quarter of FY25, FBR already reported a deficit of Rs. 92 billion. An estimated Rs. 180 billion will be lost overall between July and October.
According to sources, in order to enforce tax laws and enhance revenue collection, the regulator has created an ordinance.
The FBR has been asked to submit a report on the revenue gap to the International Monetary Fund (IMF). The sales tax exemption on tractor purchases and sales has been lowered to 14% as part of the IMF’s requirements. In order to increase FBR’s tax collection, the ordinance is also anticipated to remove an additional 4% sales tax exemption.
