The FBR tax shortfall July February period has reached Rs429 billion, according to official data released by the Federal Board of Revenue. February alone recorded a revenue gap of Rs 85 billion.
Documents show that the cumulative shortfall for July–February stands at Rs 457 billion. In February, the FBR collected Rs944 billion against a target of Rs1,029 billion. During the same month, Rs47 billion in refunds were issued.
Between July and February, the FBR collected Rs8,121 billion in taxes against a target of Rs8,550 billion. Total refunds during this period amounted to Rs. 386 billion.
Sales tax recorded a significant gap. Collection stood at Rs2,783 billion compared to a target of Rs3,028 billion, leaving a shortfall of Rs245 billion.
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Income tax collection reached Rs3,956 billion against a target of Rs4,098 billion, reflecting a Rs142 billion gap. Customs duty collection totalled Rs850 billion, versus a target of Rs898 billion, resulting in a shortfall of Rs48 billion.
However, federal excise duty (FED) slightly exceeded expectations. The FBR collected Rs532 billion against a target of Rs526 billion.
In February specifically, net income tax collection was Rs. 443 billion. Net sales tax amounted to Rs336 billion, customs duty reached Rs99 billion, and Rs67 billion was collected under the FED head.
Despite the revenue gap, officials stated that tax revenue growth during July–February exceeded 11 per cent. The FBR collected Rs787 billion more than in the same period last year, aiming to outpace economic growth and inflation in revenue mobilisation.
