FBR fails to attain tax collection target for November

ISLAMABAD: The Federal Board of Revenue (FBR) would fail to reach its tax target collection for November 2024, sources here said.

The International Monetary Fund (IMF) could demand a mini budget from Pakistan if the tax collection authority would fail to attain its target of December, according to sources.

Despite heavy taxes imposed, the FBR failing to reach to tax targets with overall 343 billion rupees shortfall in tax collection, sources said.

The taxation authority has collected Rs 852 billion during November 2024 against the monthly target of Rs1,003 billion, leaving a gap of Rs151 billion.

Sources said that the tax collection shortfall of last four months was Rs 192 billion.

The FBR has collected Rs4,292 billion during first five months of 2024-25 against the assigned target of Rs 4,639 billion set for July-November of the current fiscal year, reflecting a shortfall of Rs344 billion.

The taxation authority has collected Rs851 billion in November 2024 against Rs736 billion collection in November 2023, an increase of Rs 115 billion.