During the month of April 2023, the Federal Board of Revenue (FBR) experienced a significant shortfall of more than Rs. 100 billion.
Data prepared by FBR on Friday shows that the agency provisionally collected close to Rs. 486 billion during April 2023 compared to the set target of Rs. 586 billion, representing a shortfall of almost Rs. 100 billion.
Final data will be compiled by tax machinery during the next two days till April 30. Following the compilation of final figures by the end of April 30, the revenue collection will improve.
For FBR to reach its planned yearly tax collection objective of Rs. 7.64 trillion, 2.58 trillion rupees in federal taxes must be collected during the quarter (April-June).
All Large Taxpayer Units, Corporate Regional Tax Offices, and Regional Tax Offices of the Federal Board have received instructions from the bureau to open on April 30.
To make it easier for taxpayers to pay taxes and file income tax returns/statements on Tuesday, the offices have been directed to extend their business hours until 8 p.m.
In order to ensure that tax collection is transferred to these branches on April 30th, the FBR has further asked the Chief Commissioners-IR to establish interaction with the State Bank of Pakistan (SBP) and authorised branches of the National Bank of Pakistan.