Tax revenue falls short of expectations

ISLAMABAD: The shortfall in tax revenue is expected to be Rs68.9 billion for the first quarter (July- September) of FY2010-11, according to sources in the Federal Board of Revenue (FBR). With a day left for the quarter to end, however, the shortfall is expected to marginally decrease.

The FBR has collected Rs267 billion in tax revenue in the first quarter of FY2010-11, a 17 per cent increase from the first quarter of last year, but falling shy of the Rs339 billion target that was forecast for the period.

Tax revenue collected during the month of September amounts to Rs97 billion and is expected to cross Rs100 billion once the last day’s (September 30th) collection is added. The targeted revenue collection for September was Rs 143.4 billion.

Published in The Express Tribune, September 30^th, 2010.