ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs4.06 trillion in taxes during the first four months of fiscal year 2026-27, missing its July-October target by Rs124 billion despite recording a 6% increase over the corresponding period last year.
According to provisional figures compiled until Friday evening, tax receipts increased by Rs220 billion compared with the same period of the previous fiscal year, substantially below the 17.4% growth required to achieve the annual collection target.
The FBR has been assigned a tax collection target of Rs15.263 trillion for FY27 under the government’s programme with the International Monetary Fund (IMF). However, its internal projections indicate that receipts could reach only Rs14.3 trillion to Rs14.6 trillion by June 2027.
For October alone, the FBR collected Rs974 billion against a target of Rs1.132 trillion, recording a shortfall of Rs158 billion. Monthly receipts increased by just Rs23 billion, or 2.5%, compared with October last year.
Tax authorities expect an additional Rs20 billion to Rs25 billion from income tax returns filed on October 31, the final day of the twice-extended filing deadline, alongside further receipts from import taxes.
As of October 28, income tax payments accompanying returns stood at Rs85.2 billion, compared with Rs88.5 billion during the corresponding period last year. Officials expect these collections to exceed Rs100 billion by Saturday evening, reducing but not eliminating the overall revenue shortfall.
A breakdown of the four-month collection showed that income tax receipts reached Rs1.85 trillion, falling Rs165 billion below the target.
Sales tax remained the strongest-performing component, with collections of Rs1.515 trillion, exceeding the target by Rs67 billion. Receipts increased by Rs155 billion, or 11.3%, year-on-year, marking the fourth consecutive month in which sales tax collection surpassed its t
