The Federal Board of Revenue (FBR) has failed to achieve its tax collection targets for both December 2025 and the first half of the current fiscal year 2025–26, resulting in a significant revenue shortfall.
According to official sources, FBR faced a revenue shortfall of approximately Rs21 billion in December 2025. During the month, provisional net tax collections stood at Rs1,425 billion against a target of Rs1,446 billion.
For the first half of the fiscal year (July to December), FBR’s total provisional net tax collection amounted to Rs6,169 billion, falling short of the assigned target of Rs6,490 billion by Rs321 billion. The shortfall during the first five months was Rs315 billion, which further widened after December.
Sources said the finalization of December figures may slightly reduce the shortfall, but the overall situation remains concerning.
Due to weak performance in the first half, achieving the revised annual tax target of Rs13.9 trillion has become a major challenge for FBR. The target was revised downward from Rs14.131 trillion after negotiations with the IMF in light of flood-related economic pressures.
FBR officials confirmed that July 2025 was the only month in the current fiscal year in which tax collections exceeded the target. In July, Rs757 billion was collected against a target of Rs748 billion. From August to December, collections remained below targets each month.
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