The Federal Board of Revenue (FBR) is projected to miss its tax collection target by over Rs. 435 billion during the first seven months of the current fiscal year, sources informed ProPakistani.
For January alone, FBR is expected to fall short of its target of Rs. 956 billion by around Rs. 50 billion.
So far, FBR has managed to collect roughly Rs. 700 billion in taxes and is expected to collect another Rs. 200 billion in the final three days of the current month. This would bring the total collection to Rs. 900 billion, leaving a big gap of Rs. 56 billion.
FBR is tasked with collecting Rs. 3,000 billion in taxes during the third quarter of the ongoing fiscal year. After January, FBR aims to collect Rs. 950 billion in February and approximately Rs. 1,200 billion in March.
