FBR faces over Rs190 billion shortfall in four-month tax revenue

ISLAMABAD: The Federal Board of Revenue (FBR) has missed its tax collection targets for both the first four months of the current fiscal year 2024-25 (July to October) and for the month of October 2024.

According to recent data, FBR experienced a shortfall of PKR 111 billion for the month of October 2024.

This follows a failure by FBR to meet its tax collection target for the first quarter of the fiscal year resulting in cumulative shortfall reaching PKR 191 billion in four months.

The revenue deficit is expected to increase likelihood of a mini-budget in coming months as the government will be under pressure to raise additional revenue in line with its commitments to the International Monetary Fund (IMF).

Such measures may impose further hardships on the public. Provisional tax collections by FBR amounted to PKR 879 billion in October which fell short by PKR 111 billion against the target of PKR 990 billion set for the month.

For the first four months of FY25, FBR’s provisional net tax collections totalled PKR 3,441 billion, falling short by PKR 191 billion against the target of PKR 3,632 billion set for the period.

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