FBR falls Rs156 billion short of October tax target
The board collected Rs975 billion against a target of Rs1,131 billion and expects late filings on the month's last day to recover about Rs40 billion.
The Federal Board of Revenue collected Rs975 billion in October against a monthly target of Rs1,131 billion, a shortfall of Rs156 billion, according to figures reported by Daily Times and TechJuice on Saturday.
Saturday was the last day of the month. Designated tax offices and commercial bank branches stayed open beyond normal hours to accept late returns and clearance payments, and officials expect those payments to add about Rs40 billion, TechJuice reported. Daily Times reported that if that sum arrives, the net gap for October would come to about Rs116 billion.
The October miss follows a shortfall of Rs124 billion over the first four months of the fiscal year. The FBR was set a target of Rs4,185 billion for July to October and has collected Rs4,061 billion, according to TechJuice. Parliament approved an annual collection target of Rs15,264 billion for 2026-27.
Daily Times reported that direct tax collections and customs duties both grew more slowly than projected during the month, and that import compression measures have held down receipts at the border. It attributed that assessment to tax experts.
The board is speeding up audits and moving to widen the tax base. Officials are using digital tracking systems and automated tools to identify high-income individuals who have not filed, and enforcement teams are being sent into retail markets and unregistered businesses to raise sales tax compliance, Daily Times reported.
Final figures for October will be published after the banks complete reconciliation of the payments received on Saturday, according to the outlet.
International financial institutions are reviewing Pakistan's fiscal performance against structural benchmarks agreed with the government, Daily Times reported. Business representatives have asked the FBR to simplify procedures, saying recovery drives cause administrative disruption for filers.
The monthly gap adds pressure to the federal government's budget deficit target for the year, and meeting the quarterly tax target will require higher collections in the remaining months.
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