The net revenue collection of the Federal Board of Revenue (FBR) during July-November 24, 2018 witnessed a growth of 4.3 percent as compared to the same period of 2017-18. According to the provisional data of the FBR, the FBR has provisionally collected Rs 1,276,793 billion during July 2018 to November 24, 2018 as compared to Rs 1,223,869 billion in same period of 2017-18.
In the first 24 days of November 2018, the FBR has provisionally collected Rs 189.353 billion.
The FBR is facing a shortfall of Rs 60 billion during the first four months (July-October 2018-19), as provisional collection during July-October current fiscal year stood at Rs 1,106 billion against target of Rs 1,166 billion.
The revenue collection target for the month of October 2018 was set at Rs 315 billion. Against the assigned target, the monthly collection amounted to Rs 270 billion, reflecting a shortfall of Rs 45 billion. In September 2018, the FBR has witnessed shortfall of Rs 15 billion. Therefore, the accumulative shortfall in first four months (July-October) of the fiscal year 2018-19 totalled at Rs 60 billion.
The FBR had provisionally collected over Rs 836 billion during the first quarter (July-September) of 2018-19 against assigned revised revenue target of Rs 851 billion during the first quarter, reflecting a shortfall of Rs 15 billion.
The tax machinery is facing an uphill task to meet the ambitious revenue collection target of Rs 1,115 billion in the second quarter (October-December) of 2018-19.
The FBR has suffered shortfall of Rs 15 billion during the first quarter (July-September) of 2018-19. The tax projections of Rs 1,100 billion for second quarter plus shortfall of Rs 15 billion in the first quarter of 2018-19 would require FBR to collect Rs 1,115 billion during the second quarter (October-December) of 2018-19.
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