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ISLAMABAD:The Federal Board of Revenue (FBR) has provisionally collected Rs2.07 trillion in taxes in first seven months of the current fiscal year, falling short of its target by Rs187 billion despite increasing sales tax on petroleum products to 17% last month.From Jul
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airmaxplus of fiscal year 2018-19, the FBR provisionally received Rs2.064 trillion in taxes, according to officials. The net increase compared to the last fiscal year was only Rs69 billion or 3.5%.The 3.5% growth was far below the nominal economic growth of over 11%, indicating huge revenue slippages.The FBR was required to collect Rs2.251 trillion in seven months and fell short of its goal by nearly Rs187 billion. It expects addition of a few more billions to January s collection after taking into account book adjustments.In January alone, the FBR s provisional collection missed the target by Rs32 billion, according to sources in the FBR. The collection stood at Rs270 billion,
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