ByIslamabad, Pakistan: The Federal Board of Revenue (FBR) has faced a revenue shortfall of Rs93 billion during the first quarter (July-September) of the 2024-25 fiscal year, despite increased tax collection efforts.
The FBR collected Rs2.56 trillion in taxes during this period, surpassing its internal estimate of Rs170 billion to Rs200 billion. This increase was primarily driven by higher income tax payments from taxpayers who filed returns.
However, the FBR fell short of its quarterly target of Rs2,652 billion by Rs93 billion. The government has directed the FBR to implement stricter measures to address this shortfall and meet the annual tax target of Rs12,915 billion.
The government is also exploring ways to increase tax revenue from farmers and is working on a mechanism to collect taxes from them starting in January 2025. Express Tribune
The FBR has introduced several new measures to improve tax compliance, including eliminating the non-filer category and implementing stricter enforcement measures. These measures have contributed to increased tax revenue, but more efforts are needed to bridge the remaining gap.
The FBR’s revenue shortfall highlights the challenges in achieving the government’s ambitious tax targets. The government will need to continue implementing effective strategies and reforms to ensure sustainable revenue growth.
