Staff Report
ISLAMABAD: Pakistan’s tax collection authority, the Federal Board of Revenue (FBR), could not achieve its tax collection target of Rs 965 billion for December 2022, falling short of Rs225 billion on the last day of the calendar year, World Echo reported.
The data released by FBR reported collecting Rs740 billion in revenue in December against the given target of Rs965 billion. In total, the FBR has gathered Rs3428 billion for the current fiscal year’s first half.
In the current fiscal year 2022-23, FBR collected Rs3428 billion for the first 6 months against Rs2929 billion collected in the same period of last year, depicting a growth of 17 percent.
FBR collects Rs740 billion tax in December
Furthermore, FBR collected Rs740 billion for the month of December 2022 against Rs599 billion in the same month last year, showing a growth of almost 24 percent compared to the same month last year.
Direct taxes collection showed a jump of 66 percent during the last month of the calendar year 2022 compared to December 2021. Income (Direct) tax collection for the first half also registered a growth of 49 percent.
In a bid to enhance tax revenue, Minister for Finance and Revenue Mohammad Ishaq Dar chaired high level a meeting on the revenue performance of the FBR.
Chairman FBR Asim Ahmad gave a detailed presentation on FBR’s collection targets and workings for the two months of November and December 2022.
The chairman told the Minister that FBR has crossed the revenue collection targets till November and stated that it could successfully meet its targets in the remaining months of the running financial year 2022-23.
