The IMF has revised the projection of FBR tax collection of PKR 4.8Tn pre-Covid-19 to PKR 3.90Tn post Covid-19 for FY20, reflecting a decrease of PKR 892Bn. As percentage of GDP, the FBR’s tax collection is projected to decline from 10.9% to 9.3% with: Direct tax collection projection revised downward from PKR 1.9Tn to PKR 1.6Tn; Sales tax from PKR 1.85Tn to PKR 1.42Tn; Customs duty from PKR 697Bn to PKR 546Bn; FED from PKR 329Bn to PKR 312Bn. The IMF has also projected PKR 5.1Tn tax collection target of the FBR for FY21 against pre-Covid19 projection of PKR 6.13Tn.
18/4/2020