According to reports, the Federal Board of Revenue (FBR) only collected (Rs. 872 billion) in January, falling (80 billion) shy of its target of (Rs. 956 billion). The FBR collected (Rs. 6,496 billion) in taxes over the (7) months of the current fiscal year, which ran from (July to January). current was more than (Rs. …
FBR Falls Short Of January Target By Rs. 80 Billion
According to reports, the Federal Board of Revenue (FBR) only collected (Rs. 872 billion) in January, falling (80 billion) shy of its target of (Rs. 956 billion).
The FBR collected (Rs. 6,496 billion) in taxes over the (7) months of the current fiscal year, which ran from (July to January). current was more than (Rs. 465 billion) less than the target of (Rs. 6,964 billion).
In the (7) months from (July to January), the sources also noted that the FBR recorded a (29%) monthly increase in tax income and a (26%) yearly rise in the face of the shortage.
Also Read: FBR Chairman Justifies Vehicle Purchases Amid Senate Opposition
In accordance with the requirements of the International Monetary Fund (IMF), the FBR also achieved its goal for the tax-to-gDP ratio.
The Federal Board of Revenue (FBR) collected (Rs 1328 billion) in December, falling short of the (Rs 42 billion) target of (Rs 1370 billion). A (20%) rise in tax revenues over the same period last year was claimed to have set a new record for tax collection by the Large Taxpayer Office (LTO) in Karachi.
According to reports, LTO Karachi collected (Rs1,110 billion) in taxes throughout the 1st (5) months of the fiscal year (2024–25), which is a substantial increase above the (Rs924 billion) collected during the same time of the previous fiscal year.
As instructed by the Senate Standing Committee on Finance, the Federal Board of Revenue (FBR) stopped buying more than (1000) new cars for its personnel earlier. In a statement, Chairman Federal Board of Revenue (FBR) Rashid Langrial stated that as long as the finance committee is satisfied, car purchases would not be made. The Public Procurement Regulatory Authority (PPRA) has been called upon by the committee to provide clarification on the regulations related to the purchase.
On the 13th of January 2025, the Federal Board of Revenue (FBR) made the decision to buy (1200cc) cars for its top managers in spite of a financial shortage. The board had intended to pay (Rs. 3 billion) up front and the rest sum in installments, but the choice was criticized.
