The Federal Board of Revenue’s tax collection shortfall was recorded at Rs 101 billion in October, due to lower imports and a sharp fall in inflation.
According to the report, the collection of revenues was low mainly due to the import phase and the decline in local sales tax collection.
Tax collection in October stood at Rs 879 billion against the target of Rs 980 billion, showing a huge gap of Rs 101 billion.
FBR disbursed refunds worth Rs 169 billion in the first 4 months of the financial year, a volume of 6.28 percent higher than Rs 159 billion in the same period last year.
The Federal Board of Revenue disbursed Rs 23 billion in refunds in October, compared to Rs 30 billion in the same month last year, a decline of 23.33 percent.
In the fiscal year 2025 budget, the government has set a target of revenue collection of 129 trillion 13 billion rupees, which is 40% more than the collection made in fiscal year 2024.
