ISLAMABAD: Despite imposition of additional taxes of Rs 170 billion on February 14, the Federal Board of Revenue (FBR) has suffered a massive shortfall of Rs304 billion during July-March (2022-23).
It is learnt that the tax machinery has provisionally collected Rs5,156 billion in the first nine months of the current fiscal year against the assigned target of Rs5,460 billion for July-March (2022-23), reflecting a huge shortfall of Rs304 billion.
Till the filing of the story, the FBR has not officially released data of the tax collection on Friday.
The FBR has provisionally collected Rs 663 billion in March 2023 as compared to Rs 573.6 billion March 2022, reflecting an increase of Rs 89.4 billion.
After the imposition of taxes of Rs 170 billion in the mini-budget, the new annual tax target of the FBR has been fixed at Rs7.640 trillion.
According to provisional figures, the FBR collected Rs 663 billion in March 2023 against the target of Rs727 billion, reflecting a huge shortfall of Rs 64 billion.
The FBR has collected Rs5,156 billion in the first nine months of the current fiscal year against Rs 4,375 billion collected in the same period of 2021-22, showing an increase of Rs 780.4 billion.
Copyright Business Recorder, 2023
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