ISLAMABAD: Federal Board of Revenue may face revenue short fall against the set target of Rs.340 billion for May 2017.
According to the sources Federal Board of Revenue has collected Rs300 billion till the evening of 30th May while set target for May 2017 is Rs340 billion.
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It is important to mention here, that till 30th May Federal Board of Revenue has collected total revenue in ten months (July to May 2017) over Rs2900 billion and need another Rs600 billion more tax revenue in June to meet the revised annual target of current fiscal year Rs3521 billion.
It is pertinent to mention here that FBR was managed to collect Rs2,258 billion in revenue during the July-March period of the fiscal year of 2016-17, upto 7.88 percent over the same period a year ago.
Though Federal Board of Revenue is working hard to collect the revenue as according to the revised target of Rs.3521billion but despite these efforts it is seems that even FBR would not be able to achieve the revised revenue targets.
According to the sources FBR was expecting recovery of huge amount in court cases, right now over Rs.300 billion are stuck in various court cases. FBR has already made request to all chief justices of four provinces to give priority to the cases in which revenue is involved.
