Tax collection: FBR faces revenue shortfall of Rs200 billion

FBR has originally set a target of Rs2.381 trillion for fiscal year 2012-13.


Web Desk May 29, 2013
The fiscal year is due to end on June 30. PHOTO: FILE

ISLAMABAD: The Federal Board of Revenue (FBR) is likely to miss its tax collection target by Rs200 billion, reported Express News on Wednesday.

The shortfall comes at a time when government is struggling to overcome a crippling energy crisis mainly because it does not have funds to pay for the fuel.

FBR has originally set a target of Rs2.381 trillion for fiscal year 2012-13, which ends June 30.

In face of the shortfall in revenue collection, the government had been borrowing heavily from commercial banks to meet its expenses.

Power subsidies and ailing state-run corporations have added pressure on government's finances, officials said.

COMMENTS (7)

Mohsan | 8 years ago | Reply

This was bound to happen. Their policies make no sense. Consider the capacity tax on the beverage industry. It will lead to the closure small and medium businesses and will save the two large beverage companies millions of dollars in taxes. Where will the government earn tax revenues? The government is helping those industries with people close to them. The PML-N is miserably failing to create a fair and prosperous business environment.

skhan | 8 years ago | Reply

FBR should remember the global rule…. Tax is never paid; it’s always been collected.

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