$ 1.1Bn import compression: FBR faces PKR 68Bn shortfall in July, August

The FBR is facing a revenue shortfall of PKR 68Bn in 2MFY20 mainly because of import compression of $ 1.1Bn on a monthly basis. The FBR used to collect around 38% taxes through imports. The FBR’s net collection on account of Customs Duty stood at PKR 49.8Bn against a target of PKR 65Bn in 2MFY20. Total Inland Revenue (IR) target was envisaged at PKR 286Bn but so far, collection stands at PKR 250Bn. However, domestic collection of income tax, sales tax and federal excise duty has fetched PKR 152Bn so far, against PKR 110Bn in 2MFY19.

9/2/2019