The Federal Board of Revenue (FBR) has fixed a tax collection target of Rs. 537 billion for November.
Sources told ProPakistani that the revised tax target has been set after the FBR suffered a massive shortfall of Rs. 21 billion in October. The tax machinery would be required to collect Rs. 537 billion in November to meet the target for the second quarter of fiscal year 2022-23 (FY23).
The FBR’s provisional tax collection stood at Rs. 2,147 billion during the first four months (July-October) 2022-23 against the assigned target of Rs. 2,143 billion, reflecting an increase of Rs. 4 billion.
The FBR has provisionally collected Rs. 512 billion in October 2022 against Rs. 446.5 billion collected in October 2021, showing an increase of Rs. 65.5 billion.
The FBR had collected net revenue of Rs. 685 billion during September against the target of Rs. 684 billion, which was 27 percent higher than the collection of September 2021.
The target of the first quarter of the current financial year was also surpassed by achieving a collection of Rs. 1,635 billion against the target of Rs. 1,609 billion.
