The Federal Board of Revenue is likely to witness a shortfall of more than Rs30 billion in the last two months (May and June) of this fiscal year because of poor governance and compliance issues in the tax administration.
An official source in the finance ministry told the media that FBR will have to collect Rs530.2bn in May-June 2014 to reach this fiscal year’s downward revised target of Rs2.275 trillion.The revenue target was originally set at Rs2.475tr, but then revised to Rs2.345tr and then to Rs2.275tr.
The official said the trend in revenue collection so far shows that the revenue collection will hover around Rs2.245tr or even less by end June 2014, a shortfall of Rs30bn shortfall.
