Thursday, June 13, 2024
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FBR Failed To Achieve Revenue Target

According to sources, the Federal Board of Revenue (FBR) has failed to achieve its revenue target for the first 10 months of the current financial year. FBR’s revenue shortfall stood at Rs 48 billion, as it collected Rs 7366 billion against the target of Rs 7414 billion. In April 2024, the tax target was Rs 707 billion, but FBR could only collect Rs 654 billion, resulting in a revenue shortfall of Rs 53 billion. Unfortunately, FBR fears a revenue shortfall of up to 100 billion rupees this month.

Although FBR has collected tax revenues as per the target from July to March, it is afraid of revenue collection shortfall from April to June. The total revenue target of FBR for the current financial year is 9415 billion rupees, and due to the current uncertainty in FBR, it is falling short. However, sources say that FBR can still collect more than 91 billion rupees in tax revenue during the current financial year.

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