ISLAMABAD: The Federal Board of Revenue (FBR) is facing shortfall of Rs8 billion during first eight months of current fiscal year 2025 and failed to achieve revenue collection target for the month of February 2025.
Sources said that the FBR had generated Rs850 billion against the assigned revenue collection target of Rs983 billion during the month of February 2025.
Sources further revealed that the FBR had collected Rs7,349 billion tax from July 2024 to February 2025 against the assigned target of Rs7,995 billion.
It is necessary to mention here that Federal Bureau of Revenue (FBR) has registered record increase in capital gains tax collection on significant improvement in stock market.
According to sources, the capital gain tax collection has reached $15.73 billion registering an increase of 82 percent in the 7 months of the current financial year.
IMF has asked Pakistan to implement extra revenue measures following the Federal Board of Revenue’s (FBR) revenue shortfall in the first four months of the fiscal year. The IMF also declined Pakistan’s request to revise down the FBR’s tax collection targets.
According to FBR sources, the IMF urged Pakistan to make up for the tax shortfall with additional revenue-raising steps. During virtual discussions with the IMF, the FBR had sought a downward revision of its tax targets, but the request was denied, sources said.
The FBR’s tax shortfall may impact the disbursement of the second loan tranche, and further measures could be needed if the shortfall grows in the coming months, sources added.
