Tax collection : Rs30b shortfall expected in April

Total collection unlikely to exceed Rs120b against Rs151b target.

ISLAMABAD:

The Federal Board of Revenue (FBR) is facing a tax collection shortfall of up to Rs30 billion in April.

An FBR official informed that collection for the month stood at Rs100 billion, adding that the board was expecting further revenues of around Rs20 billion on Saturday from banks and various other institutions.

The collection will reduce the shortfall, but will still keep the figure at around Rs30 billion, as total collection is unlikely to exceed Rs120 billion against a target of Rs151.2 billion.

Of the collected Rs100 billion, Rs32 billion was collected through income tax, Rs43 billion through indirect sales tax, Rs12 billion through federal excise duties and Rs13 billion through customs duties.

The official added that total collection for the first 10 months of the fiscal year (July-April) had been recorded at Rs1,189.86 billion.

Published in The Express Tribune, April 30^th, 2011.