In the seven months of this fiscal year from July to January, the FBR collected Rs. 6,496 billion in taxes, missing its target of Rs. 6,964 billion by over Rs. 465 billion. Despite the shortfall, the FBR reported a 29% monthly growth in tax revenue and a 26% annual growth in the seven months from […]
The official data shows people of Islamabad, Rawalpindi, and Karachi are buying expensive sugar in Pakistan at the cost of Rs160 per kg. The sugar is sold at Rs155 per kg in Gujranwala, Sialkot, Khuzdar and Quetta, while the commodity’s per kg rate is Rs150 in Faisalabad, Sargodha, Multan and Larkana. In Rawalpindi and Lahore, […]
According to FBR officials, the revenue target for January 2025 was set at Rs956 billion. While the FBR is close to achieving its monthly target, officials are confident that the remaining amount will be collected soon. The FBR has also set a revenue collection target of Rs 3150 billion for the period between January and […]
In an official statement, the Inland Revenue Service Officers Association of FBR asserted that the allegations raised by Faisal Vawda were baseless and challenged him to provide evidence to support his claim. “Baseless accusations could harm the tax collection process,” the FBR officers warned Senator Faisal Vawda. The statement further said that all government vehicle […]
Vawda made the shocking claims during a meeting of the Senate Standing Committee on Finance on Thursday. The politician said that FBR officials including Ali Salih, Shahid, and Dr. Sajjad Siddiqui issued death threats following the committee’s January 22 meeting. Faisal Vawda claimed that the FBR officials raided his company after he proposed providing 1,010 […]
The Federal Board of Revenue (FBR) is to face a revenue shortfall of over Rs 50 billion in the ongoing month of January 2025. As per details, the government is reportedly considering FED on the sugar to minimize the tax shortfall ahead of the IMF review for the second tranche of the ongoing loan program. […]
“There is a Rs 3,000 billion shortfall in sales tax revenues,” the federal minister said while floating his peculiar logic for the purchase of over one thousand expensive vehicles for the Federal Board of Revenue (FBR). “FBR officials will work in the field to take measures to reduce this deficit,” Tarar said. He said the […]
Speaking on the floor of the Senate, Faisal Vawda said FBR failed to achieve the Rs384 billion revenue target and yet is getting vehicles. “Shortfall in FBR’s targets might be the reason behind rewarding them with new vehicles.” Faisal Vawda further said if you insist on fulfilling your desires and providing vehicles, why not opt […]
According to sources, the FBR will likely collect only around Rs900 billion in taxes, falling short of its target of Rs956 billion. Sources within FBR revealed that the revenue shortfall from July to January may exceed Rs435 billion. So far, the FBR has collected around Rs700 billion in taxes and is expected to collect an […]
As per details, Sardar Enterprises was found guilty of tax evasion and smuggling at the Karachi Export Processing Zone. According to the Port Qasim Export Collectorate, the company was found guilty of evading taxes worth Rs 825 million. The company reportedly misused tax-exempted goods and illegally cleared used materials at local market rates. Investigations revealed […]