The Federal Board of Revenue (FBR) has fallen short of its tax revenue collection target for March 2025 by Rs. 107 billion, owing to slower Gross Domestic Product (GDP) growth and lower than expected inflation.
The FBR’s tax collection in March 2025 stood at Rs. 1,113 billion against a target of Rs. 1,220 billion, resulting in a shortfall of over Rs. 107 billion.
For the first nine months of the current fiscal year (July-March FY25), the FBR collected Rs. 8,451 billion, falling short of the target of Rs. 9,167 billion.
The cumulative shortfall in revenue collection from July to March 2025 has surpassed Rs. 707 billion, creating a significant challenge for the FBR to meet the revised annual target of Rs. 12,334 billion for the ongoing fiscal year.
It is pertinent to note that the International Monetary Fund (IMF) has revised the FBR’s annual tax target downward, from Rs. 12,913 billion to Rs. 12,334 billion.
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