ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 2.580 trillion by the end of fiscal year 2014-15 facing a shortfall of Rs 25 billion against the set target of Rs 2.605 trillion.
The revenue collection grew by more than 14 percent in 2014-15 as compared to last year’s Rs 2.255 trillion.
By revealing the figures officials told that the data is provisional and that revenue collection will go up after finalisation of the figures in the next couple of weeks.
They added that FBR was still collecting and compiling information from various banks and State Bank of Pakistan (SBP) regarding deposits of taxes.
It is important to mention here that the revenue target was originally set at Rs 2.810 trillion for the outgoing fiscal year by the government, but then revised to Rs 2.605 trillion.
The official said that the revenue collection was mostly hit by the decline in oil and commodity prices on the international market. “The decline is also the outcome of no collection of general sales tax on the two projected revenue spinners,” they added.
