The Federal Board of Revenue (FBR) is projected to miss its tax collection target by over Rs. 344 billion during the first five months of the current fiscal year, sources informed ProPakistani.
For November alone, FBR is expected to fall short of its target of Rs. 1,003 billion by around Rs. 150 billion. Over the past four months, FBR has already recorded a shortfall of Rs. 192 billion.
Sources said the latest protests in the federal capital had minimal impact on overall revenues, even then tax collections in Islamabad and Lahore have been adversely affected. However, Karachi remains the largest contributor to the FBR’s revenue pool.
Tax officials estimate that November’s collections will amount to Rs. 850 billion, far below the monthly target.