The FBR is experiencing a Rs412 billion deficit in tax revenue from July to November.

The Federal Board of Revenue (FBR) experienced a deficit of Rs 412 billion relative to its income target of Rs 5,143 billion from July to November of this year, as per official documents.

The adjusted targets reveal that the FBR had a shortfall of Rs314 billion for the period of July to November. In November, the actual aim was Rs1,035 billion, resulting in a shortfall of Rs139 billion, while the revised target of Rs995 billion indicated a deficit of approximately Rs96 billion.

The FBR amassed Rs4,730 billion in revenue from July to November, with Rs896 billion collected in November alone. Nonetheless, receipts from income tax, sales tax, and Federal Excise Duty (FED) did not meet the established targets throughout this period.

Between July and November, income tax receipts amounted to Rs2,233 billion, sales tax to Rs1,876 billion, federal excise duty to Rs326 billion, and customs duty to Rs548 billion.

The initial objectives for July to November were established at Rs2,367 billion for income tax, Rs1,925 billion for sales tax, Rs332 billion for federal excise duty, and Rs519 billion for customs duty. The adjusted targets were Rs2,317 billion for income tax, Rs1,883 billion for sales tax, Rs326 billion for federal excise duty, and Rs519 billion for customs duty.

In November, the FBR collected Rs403 billion in income tax, Rs364 billion in sales tax, Rs64 billion in FED, and Rs108 billion in customs duty, compared to targets of Rs439 billion, Rs369 billion, Rs67 billion, and Rs112 billion, respectively. Between July and November, Rs255 billion were reimbursed, including Rs48 billion in reimbursements provided solely in November.