FBR ‘short’ of revenue collection target for FY22-23

In the ongoing fiscal year, the Federal Board of Revenue (FBR) is facing a shortfall in its target for tax revenue collection by over Rs300 billion.

In the first nine months of the fiscal year 2022-23, the FBR is faced with a shortfall of Rs304 billion in tax revenue collection.

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Sources say the board’s target for March has also fallen short of Rs64 billion.

According to FBR sources, the tax revenue target for March was Rs727 billion, while the collection could only end up at Rs663 billion.

For the period between July 2022 and March 2023, the tax revenue target for FBR was Rs5,460 billion, while the amount of revenue was Rs5,156 billion.

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The revised annual tax target for the current fiscal year is Rs7,640 billion.