{"id":66601,"date":"2020-06-12T17:58:41","date_gmt":"2020-06-12T12:58:41","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66601"},"modified":"2020-06-12T17:58:42","modified_gmt":"2020-06-12T12:58:42","slug":"covid-19-outbreak-fbr-expected-to-miss-its-target-for-fy2019-20","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/covid-19-outbreak-fbr-expected-to-miss-its-target-for-fy2019-20.html","title":{"rendered":"COVID-19 outbreak: FBR expected to miss its target for FY2019-20"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) is expected to miss its revenue collection target for Fiscal Year (FY) 2019-20 in the wake of the ongoing countrywide lockdown imposed to fight the spread of the coronavirus pandemic \u2014 a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-requests-partial-exemption-from-lockdown-to-maximize-revenue-collection.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR requests partial exemption from lockdown to maximize revenue collection<\/a><\/p>\n\n\n\n<p>Initially, the target had been set at PKR 5.55 trillion, which had later been revised to PKR 4.8 trillion. However, due to the pandemic, the actual collection, so far, stands at PKR 3.908 trillion \u2014 missing the revised target by PKR 892 billion.<\/p>\n\n\n\n<p>The government also provided a large number of tax exemptions worth nearly PKR 1.15 trillion during the current fiscal \u2014 nearly 18.26% higher than last year, as per the Economic Survey of Pakistan.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/imf-reduces-fbrs-tax-collection-targets-fy2019-20.html\" target=\"_blank\" rel=\"noreferrer noopener\">IMF reduces FBR\u2019s tax collection targets for FY2019-20<\/a><\/p>\n\n\n\n<p>Of these, the income tax exemptions stood at PKR 378.03 billion; the sales tax exemptions at PKR 518.8 billion; and the custom exemptions at PKR 253.11 billion during FY2019-20. While the Sales Tax exemption was lower than the previous year, the income tax and custom exemptions were higher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) is expected to miss its revenue collection target for Fiscal Year (FY) 2019-20 in the wake of the ongoing countrywide lockdown imposed to fight the spread of the coronavirus pandemic \u2014 a news source reported. Read: FBR requests partial exemption from lockdown to maximize revenue collection Initially, the target had been set at PKR 5.55 trillion, which had later been revised to PKR 4.8 trillion. However, due to the pandemic, the actual collection, so far, stands at PKR 3.908 trillion \u2014 missing the revised target by PKR 892 billion. The government also provided a large number of tax exemptions worth nearly PKR 1.15 trillion during the current fiscal \u2014 nearly 18.26% higher than last year, as per the Economic Survey of Pakistan. Read: IMF reduces FBR\u2019s tax collection targets for FY2019-20 Of these, the income tax exemptions stood at PKR 378.03 billion; the sales tax exemptions at PKR 518.8 billion; and the custom exemptions at PKR 253.11 billion during FY2019-20. While the Sales Tax exemption was lower than the previous year, the income tax and custom exemptions were higher.<\/p>\n","protected":false},"author":57,"featured_media":59990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[31669],"persona":[],"class_list":{"0":"post-66601","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-covid-19-outbreak-fbr-expected-to-miss-its-target-for-fy2019-20","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COVID-19 outbreak: FBR expected to miss its target for FY2019-20 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) is expected to miss its revenue collection target for Fiscal Year (FY) 2019-20 in the wake of the ongoing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/covid-19-outbreak-fbr-expected-to-miss-its-target-for-fy2019-20.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COVID-19 outbreak: FBR expected to miss its target for FY2019-20 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) is expected to miss its revenue collection target for Fiscal Year (FY) 2019-20 in the wake of the ongoing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/covid-19-outbreak-fbr-expected-to-miss-its-target-for-fy2019-20.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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