The Federal Board of Revenue or FBR missed the tax collection target in the initial 8 months of the ongoing fiscal year.
In first 8 months, FBR missed the tax collection target by the huge amount of Rs235 billion. The total revenue collected during this period is Rs 2.328 trillion.
On the month on month performance, FBR reported the overall revenue collection at Rs 268 billion last month. However, the projected target was Rs 313 billion. FBR will have to gather Rs2.106 trilion in the upcoming 4 months in order to attain the target for the ongoing fiscal year.
An FBR official revealed that the maximum revenue was realised in the last week of every month. He explained that “in last three days, the collections slowed down due to Indo Pak-India tension” adding that even the goods declarations (GDs) were not filed as per the normal routine.
He claimed that decline in revenue collections was partly due to ongoing tensions on the eastern border but was optimistic that collections will gain momentum in the next four months. The minister ruled out any downward revision in the collections target of the FBR.