Around Rs148bn shortfall: FBR likely to collect Rs1.225trn this month

ISLAMABAD: The Federal Board of Revenue (FBR) has estimated to collect Rs1,225 billion during December 2024 against the assigned target of Rs1,373 billion, reflecting a shortfall of around Rs148 billion.

The provisional tax collection figures would be available late night December 31, 2024.

The FBR has to collect taxes of Rs6,009 billion during July to December (2024-25), however, the FBR has estimated that it will collect around Rs5,500 billion, depicting a shortfall of Rs509 billion.

Pakistan’s top 5% earners liable to pay Rs1.6trn in taxes, says FBR chief

The FBR had collected Rs4,295 billion during first five months of 2024-25 against the assigned target of Rs4,639 billion set for July-November of current fiscal year, reflecting a shortfall of Rs344 billion.

This will be fourth consecutive month in the current fiscal year where monthly tax collection targets were missed.

The FBR had collected Rs996 billion in July 2024 against the target of Rs985 billion, Rs782 billion against the monthly target of Rs898 billion in August 2024, Rs1,106 billion against the target of Rs1,098 in September 2024, Rs878 billion collection against target of Rs980 billion in October 2024 and collected Rs855 billion against the target of Rs1,003 billion during November 2024.

The overall revenue shortfall in tax collection is likely to be increased to around Rs500 billion over the first six months of the fiscal year 2024-25.

Copyright Business Recorder, 2024