FBR Likely to Face Revenue Shortfall of Rs. 200 Billion in December

The Federal Board of Revenue (FBR) is set to suffer a revenue shortfall of around Rs. 200 billion in December 2022, highly placed officials told ProPakistani on Friday.

Till now, the tax collection for December has crossed Rs. 700 billion against the assigned target of Rs. 965 billion, showing a shortfall of Rs. 265 billion. However, following tax collection in the last two days of December, the shortfall is expected to be reduced to Rs. 200 billion.

Instead of new taxation measures, the FBR has given top priority to administrative and enforcement measures including anti-smuggling efforts, accurate valuation of imported goods, track and trace system, point of sales (POS), integration of tier-1 retailers, tax demands, Directorate General of Digital Invoicing and Analysis (DGDIA) and recovery of arrears.

Among other measures, the policy measures taken in the budget included an increase in withholding taxes rates and taxes on immovable properties and shares.

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