KARACHI (Dunya News) – The Federal Board of Revenue (FBR) encountered a shortfall of Rs 412 billion against its Rs5,143 billion revenue target from July to November this year, according to official documents.
The revised targets indicate that FBR faced a gap of Rs314 billion for July-November. In November alone, against an actual target of Rs1,035 billion, the shortfall was Rs139 billion, while the revised target of Rs995 billion showed a deficit of around Rs96 billion.
Overall, FBR collected Rs4,730 billion in revenue during July-November, including Rs896 billion in November alone. However, collections in income tax, sales tax, and Federal Excise Duty (FED) fell short of targets during this period.
From July to November, income tax collections stood at Rs2,233 billion, sales tax at Rs1,876 billion, FED at Rs326 billion, and customs duty at Rs548 billion.
The original targets for July–November were set at Rs2,367 billion for income tax, Rs1,925 billion for sales tax, Rs332 billion for FED, and Rs519 billion for customs duty. Revised targets were Rs2,317 billion for income tax, Rs1,883 billion for sales tax, Rs326 billion for FED, and Rs519 billion for customs duty.
In November alone, FBR collected Rs403 billion in income tax, Rs364 billion in sales tax, Rs64 billion in FED, and Rs108 billion in customs duty, against respective targets of Rs439 billion, Rs369 billion, Rs67 billion, and Rs112 billion. During July-November, Rs255 billion were refunded, with Rs48 billion in refunds issued in November alone.