ISLAMABAD: The Federal Board of Revenue (FBR) has failed to meet its tax collection target for November 2024.
The FBR collected Rs.852 billion in November, falling short of the target of Rs.1,003 billion, resulting in a gap of Rs.151 billion.
Despite imposing heavy taxes, the FBR is facing a persistent shortfall, with a cumulative tax collection deficit of Rs.343 billion for the first five months of the 2024-25 fiscal year. The authority has managed to collect Rs.4,292 billion against a target of Rs.4,639 billion set for July-November 2024, reflecting an overall shortfall of Rs.344 billion.
Sources revealed that the shortfall for the last four months alone amounts to Rs.192 billion. However, the FBR’s performance is showing some improvement, with November’s collection of Rs.852 billion representing a Rs.115 billion increase compared to Rs.736 billion in November 2023.
The continued shortfall in tax collection raises concerns, as the International Monetary Fund (IMF) may demand a mini-budget from Pakistan if the FBR fails to meet its December target.
