Revised tax projection estimated at Rs 3,950 billion

The downward revised revenue collection target of the Federal Board of Revenue (FBR) would range between Rs 3,940 billion to Rs 3,950 billion for outgoing fiscal year. Sources told Business Recorder here on Tuesday that the revised tax projection has been estimated at Rs 3,950 billion against the budgetary projection of Rs 4,013 billion, reflecting a shortfall of Rs 63 billion.
If shortfall is Rs 70 billion by the end of 2017-18, the downward revised tax estimates would be Rs 3,943 billion for outgoing fiscal year. The FBR's revised target could be Rs 3,943 billion against the ambitious target of Rs 4,013 billion for 2017-18, reflecting a shortfall of Rs 70 billion. The FBR has provisionally collected net revenue of over Rs 2,621 billion during July-March (2017-18) against Rs 2,260 billion collected during the same period of previous fiscal year, reflecting an increase of around 16 percent.