The Federal Board of Revenue (FBR) is facing a revenue shortfall of Rs41 billion during January and February.
Islamabad: FBR faces revenue shortfall of Rs41bn in two months. Sources said the board collected Rs681 billion in tax revenue instead of target of Rs714 billion during February, indicating a shortfall of Rs33 billion. It had a shortfall of Rs8 billion in January.
Sources said the revenue shortfall emerged mainly due to the restructuring of FBR by the interim government.
The FBR collected a total of Rs5,829 billion during July-February FY 2023-24.
According to an FBR announcement, a growth of 30 per cent has been recorded in the revenue collection during July to February FY 2023-24.
The FBR sources predicted possibility of further revenue shortfall in the coming months.
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The Federal Board of Revenue (FBR) formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax evaders under surveillance, assess taxable incomes and perform special tasks for FBR Headquarters. FBR performs role of collection of taxation in the country from all individuals and businesses.
FBR also collects intelligence on tax evasion and administers tax laws for the Government of Pakistan and acts as the central revenue collection agency of Pakistan.
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