Overview
- The FBR collected about Rs6.154 trillion in July–December against a target near Rs6.489–6.490 trillion, creating a shortfall of roughly Rs335–336 billion and marking five straight months of misses.
- The annual tax collection goal has been revised to Rs13,979 billion in consultation with the IMF, with parliamentary approval for the revision still pending.
- December receipts reached a record Rs1,427.1 billion, or 99% of the monthly target, helped by roughly Rs305 billion in corporate deposits on December 31 and lower refunds of Rs38 billion versus Rs72 billion a year earlier.
- An IMF team will review FBR performance virtually next week, and the Fund has signaled that additional tax measures or spending cuts could be required if revenue slippages widen.
- FBR has ordered close scrutiny of major exporters after a shift from final to minimum tax on export proceeds, drawing objections from business groups that raised concerns with the prime minister.