ISLAMABAD: In a recent update, the sources have claimed that the Federal Board of Revenue (FBR) would fall short of its November 2024 tax collecting objective.
According to sources, if Pakistan’s tax collection authority doesn’t meet its December target, the International Monetary Fund (IMF) may demand a short budget.
Despite the high taxes levied, the FBR is falling short of its tax collection goals, with a total shortfall of 343 billion rupees, sources added.
There is a Rs151 billion discrepancy between the Rs 852 billion the tax administration collected in November 2024 and the Rs 1,003 billion monthly objective.
According to sources, there was a Rs 192 billion shortfall in tax collection over the previous four months. During the first five months of 2024–25, the FBR collected Rs4,292 billion, which is Rs344 billion less than the Rs 4,639 billion target set for July–November of the current fiscal year.
In November 2024, the tax administration collected Rs851 billion, up Rs 115 billion from November 2023’s revenue of Rs736 billion.
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