IMF Reduces Pakistan’s Annual Tax Collection Target by 64 Billion Rupees

Islamabad:The International Monetary Fund (IMF) has reduced Pakistan’s annual tax collection target by 64 billion rupees. According to sources, the IMF lowered the target from 1,297 billion rupees to 1,233 billion rupees.

The Federal Board of Revenue (FBR) had committed to meeting the revised target of 1,233 billion rupees for tax collection, but this reduction may impact the ongoing agreement with the IMF.

Sources indicate that FBR failed to meet its tax collection target for the first nine months of the current fiscal year. In March, the tax collection fell short by 107 billion rupees, with a target of 1,220 billion rupees for the month. However, FBR was only able to collect 1,113 billion rupees.

As a result, the total tax shortfall for FBR in the first nine months of the current fiscal year has reached a staggering 708 billion rupees.