ISLAMABAD: The Federal Board of Revenue missed the revenue collection target of Rs 705 billion, set for the first quarter of the current fiscal year, by Rs 81 billion and collected Rs 624 billion.
Last year, the revenue authority had also failed to achieve target and the federal government had to impose Rs 40 billion extra taxes on more than 350 household items.
The FBR collected Rs 246 billion under the head of income tax, 257 billion as sales taxes, Rs 31 billion as federal excise duty and Rs 99 billion as customs duty. The FBR had collected Rs 246 billion income tax, 258 billion sales taxes, Rs 28 billion federal excise duty and Rs 81 billion customs duty in the corresponding period last year.
