FBR falls Rs143bn short of November tax target
“Provisional data show a Rs143bn shortfall against the FBR’s November target, putting annual goals at risk.”
Key points
- Provisional data show a Rs143bn shortfall against the FBR’s November target, putting annual goals at risk.
- The IMF-aligned full-year plan may require contingency steps if receipts don’t accelerate.
Pakistan’s Federal Board of Revenue is set to fall Rs143 billion short of its November target, with provisional net receipts around Rs892 billion against a goal of Rs1.035 trillion amid weak economic activity, plant closures and higher tax rates.
Officials still hope the tally will edge past Rs900 billion, but the broader trend threatens the full-year objective. Even the downward-revised target of Rs13.979 trillion agreed with the IMF could face a significant gap if the pace of collection does not improve.
From July to November, net collection reached Rs4.727 trillion after Rs254 billion in refunds, against a gross take of Rs5.04 trillion. The breakdown includes Rs2.231 trillion in income tax, Rs1.875 trillion in sales tax, Rs0.326 trillion in federal excise and Rs0.547 trillion in customs duty.
For November alone, gross inflows were Rs995 billion before refunds. With under-performance persisting, authorities may need contingency revenue measures in the second half of the fiscal year under the IMF programme, while senior officials have called for reforms to an over-taxed growth model.
Corrections & clarifications
Spot an inaccuracy or need more detail? Email connect@newsnexus24.com. Significant updates are timestamped above.
