Revenue collection falls short by Rs33bn in Feb

ISLAMABAD: Tax collection by the Federal Board of Revenue (FBR) fell short of the target by almost Rs33 billion in February, mainly due to lower collection of domestic taxes and customs duty, provisional figures showed on Thursday. The revenue collection in February stood at Rs681bn against a projected target of Rs714bn. However, it increased by over 30 per cent compared to Rs519bn collected in the same month last year. These figures would further improve slightly after book adjustments have been taken into account. The lower-than-targeted collection in February comes after a Rs9bn shortfall in January. The failures in the two consecutive months will cause problems for the FBR’s overall annual revenue collection target for the current fiscal year.