FBR Sets Tax Collection Target of Rs. 965 Billion for December

The Federal Board of Revenue (FBR) is facing the impossible task to collect Rs. 965 billion in December for meeting the assigned revenue collection target. An extraordinary growth of 61 percent (compared to last year’s collection) would be required in revenue collection during December.

The provisional collection during July-October FY23 stood at Rs. 2,149 billion which exceeded the target by Rs. 5.4 billion. The target for November-June FY23 has been set at £5,321 billion. According to data, the overall tax collection from imports witnessed a decrease of 0.6 percent.

The Finance Ministry has revised up the revenue collection targets for the Federal Board of Revenue (FBR) for the current financial year to Rs. 7,470 billion due to floods in Punjab and Khyber Pakhtunkhwa.