Overview
- Provisional data show FBR collected about Rs6.154 trillion in July–December against a Rs6.489 trillion target, with December falling roughly Rs25 billion short.
- Authorities reported Rs38 billion in refunds paid in December and noted heavy end-month inflows, including about Rs305 billion in corporate payments on the final day.
- The IMF earlier reported a Rs1.2 trillion shortfall last fiscal year and attributed the gap chiefly to weaker sales tax and import duties, slower growth worth Rs850 billion, and administrative inefficiencies of about Rs380 billion, despite a 26% annual improvement in collections.
- The annual tax target has been revised to roughly Rs13.98 trillion, and the IMF is set to review FBR performance next week.
- Pakistan told the IMF it would pursue about Rs200 billion in additional tax measures in January, and the FBR has begun scrutinising major exporters’ filings, prompting complaints from business groups to the prime minister.