No Result
View All Result
Monday, June 30, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

    Sardaar Ji 3

    ‘Sardaar Ji 3’ outperforms Salman Khan’s ‘Sultan’ on opening day

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

    Sardaar Ji 3

    ‘Sardaar Ji 3’ outperforms Salman Khan’s ‘Sultan’ on opening day

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

FBR may suffer shortfall of Rs. 100 billion

Salima Bhutto by Salima Bhutto
October 29, 2019
Federal Board of Revenue to remove pirated software

Federal Board of Revenue to remove pirated software

ISLAMABAD: The Federal Board of Revenue may suffer a shortfall of around Rs. 100 billion in tax collection against an ambitious target of  Rs. 1.07 trillion. 

It was a few days back when the technical team from the International Monetary Fund had a meeting with the FBR officials to evaluate the financial forecasting and cash management. The purpose of the evaluation was to assist Pakistani tax collectors in the execution of the new Public Finance Management Act 2019.

The team from IMF questioned the rationale behind the high monthly revenue targets. The team was skeptical of FBR taking advances to meet its targets. However, the tax collectors insisted that they were not taking advances to meet the targets.

According to sources the Revenue Board took roughly Rs. 15 billion in advances in August and it was again trying to receive advances this month for covering the widened gap between tax collection and the set target.

As of Thursday, the Board could potentially generate Rs. 845 billion in taxes, whereas, it has to collect another Rs. 228 billion of taxes in the next two working days before the month ends. According to the sources, the collection target is going to be missed by a margin of around Rs.100 billion.

“In the last fiscal year, the FBR had collected Rs3.829 trillion in taxes. The government took Rs735 billion worth of taxation measures in the current year’s budget while the nominal GDP growth is projected at 15% (3% real GDP plus 12% inflation), which will help collect additional taxes of Rs574 billion,” Ashfaq Tola, a member of the government’s Tax Reforms Implementation Committee.

“After taking into account the impact of 15% nominal GDP growth and Rs735 billion worth of taxation measures, the FBR could not collect more than Rs5.14 trillion in the current fiscal year”, added by Ashfaq Tola, a member of the government’s Tax Reforms Implementation Committee.

 

Tags: collectionFBRtargetTAX
ShareTweetSendShare
Previous Post

Pakistan to play against Sri Lanka today in Karachi

Next Post

Qandeel murder case: Brother sentenced to life imprisonment

Related Stories

Business & Stock

Saudi Riyal to PKR rate today – June 30, 2025

June 30, 2025
Forex rates in Pakistan today
Business & Stock

Forex rates in Pakistan on Monday – June 30, 2025

June 30, 2025
Business & Stock

Pakistan secures $3.4 billion loan extension from China

June 30, 2025
file photo
Business & Stock

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)
Business & Stock

Latest prices of solar panels in Pakistan – June 2025

June 29, 2025
State Bank
Business & Stock

Pakistan sees significant rise in digital payments: State Bank

June 29, 2025
file photo
Business & Stock

Petroleum consumers to pay Rs2.50 per litre climate levy from July 1st

June 29, 2025
Representative image
Business & Stock

Latest forex rates in Pakistan today- June 29, 2025

June 29, 2025
representative image
Business & Stock

Latest gold prices in Pakistan today- June 29, 2025

June 29, 2025
representative image
Business & Stock

Gold prices further drop in Pakistan

June 28, 2025
Next Post
Qandeel murder case: Court sentenced life imprisonment to brother

Qandeel murder case: Brother sentenced to life imprisonment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.
Film & TV

Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

by MM News Staff
June 30, 2025
(Representational Image)
Crime

Bahawalnagar man arrested for enabling sexual assault of wife

by MM News Staff
June 30, 2025
(File Photo)
Top News

Weather forecast for Karachi today

by MM News Staff
June 30, 2025
Business & Stock

Saudi Riyal to PKR rate today – June 30, 2025

by MM News Staff
June 30, 2025
Forex rates in Pakistan today
Business & Stock

Forex rates in Pakistan on Monday – June 30, 2025

by MM News Staff
June 30, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

(File Photo)
Top News

Weather forecast for Karachi today

by MM News Staff
June 30, 2025

The Pakistan Meteorological Department (PMD) has predicted partly cloudy and humid weather for Karachi...

Rain

Monsoon showers hit Karachi, more rain expected in coming hours

June 28, 2025
file photo

Showers continue across Karachi, bringing relief from the heat

June 27, 2025
file photo

Will Karachi receive more rain today?

June 27, 2025
See all

Prices

Prices

Rs1.15 per unit cut likely in power tariff

by MM News Staff
June 30, 2025

The federal government has submitted an application to the National Electric Power Regulatory Authority...

Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)

Latest prices of solar panels in Pakistan – June 2025

June 29, 2025
representative image

Latest gold prices in Pakistan today- June 29, 2025

June 29, 2025
representative image

Gold prices further drop in Pakistan

June 28, 2025
See all

Transport News

(APP)
Transport

Rs150 billion approved to make Rawalpindi a ‘signal-free’ city

by MM News Staff
June 29, 2025

The Punjab government has approved a record-breaking development package worth Rs.150.0 billion for Rawalpindi...

file photo

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Maryam Nawaz

Maryam Nawaz orders 240 electric buses for South Punjab districts

June 28, 2025

Two planes avoid major accidents following bird strikes at Karachi airport

June 27, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.