ISLAMABAD: The Federal Board of Revenue (FBR) has recorded a shortfall of Rs42 billion in tax collection for the first eight months of the current fiscal year.
The board collected Rs865 billion during this period, which represents an increase of nine per cent compared with the corresponding period of the preceding fiscal year.
According to provisional statistics released by Federal Board of Revenue, Rs95 billion were collected in February alone, representing a 2.8 per cent increase compared with the Rs92 billion collected in February 2010. However, despite the increase, the board missed its Rs130 billion target by Rs35 billion.
FBR also missed its Rs907 billion target for the eight months, by a massive Rs42 billion.
However, this figure is likely to drop by up to Rs15 billion once the board releases its final statistics in the next few days.
Published in The Express Tribune, March 1st, 2011.
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