{"id":98908,"date":"2024-09-02T11:05:12","date_gmt":"2024-09-02T06:05:12","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=98908"},"modified":"2024-09-02T12:11:03","modified_gmt":"2024-09-02T07:11:03","slug":"fbr-falls-short-remains-under-imf-set-target","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-falls-short-remains-under-imf-set-target.html","title":{"rendered":"FBR targets PKR 1.196tr tax collection in Sep to align with IMF requirements"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) reported a tax collection of PKR 1,456 billion for July and August, falling short of the PKR 1,554 billion target by PKR 98 billion, as per the claims made by sources on September 2.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/tajir-dost-scheme-observes-withdrawal-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\">Tajir Dost Scheme: FBR simplifies tax return forms for traders<\/a><\/p>\n\n\n\n<p>According to the details, the FBR must collect PKR 1,196 billion in September to align with the International Monetary Fund (IMF) goals. The cumulative target is PKR 2,652 billion by the end of the month.<\/p>\n\n\n\n<p>Domestic tax collections showed robust growth, with a 36% increase in income tax and a 40% rise in sales tax. However, tax revenue from imports lagged due to reduced import volumes, particularly in high-duty items. Despite a 4% rise in Customs duties, the overall growth in net tax collection registered a 21% increase year-on-year.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-forms-32-member-task-force.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR forms working group to increase tax collection, meet 2024-25 targets\u00a0<\/a><\/p>\n\n\n\n<p>The FBR is optimistic about achieving its first-quarter targets, expecting a boost in economic activity and imports in September. Ongoing reforms, including digitisation and AI-based data integration, are anticipated to enhance revenue collection. However, failure to meet the target could lead to IMF-mandated additional revenue measures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) reported a tax collection of PKR 1,456 billion for July and August, falling short of the PKR 1,554 billion target by PKR 98 billion, as per the claims made by sources on September 2. Read: Tajir Dost Scheme: FBR simplifies tax return forms for traders According to the details, the FBR must collect PKR 1,196 billion in September to align with the International Monetary Fund (IMF) goals. The cumulative target is PKR 2,652 billion by the end of the month. Domestic tax collections showed robust growth, with a 36% increase in income tax and a 40% rise in sales tax. However, tax revenue from imports lagged due to reduced import volumes, particularly in high-duty items. Despite a 4% rise in Customs duties, the overall growth in net tax collection registered a 21% increase year-on-year. Read: FBR forms working group to increase tax collection, meet 2024-25 targets\u00a0 The FBR is optimistic about achieving its first-quarter targets, expecting a boost in economic activity and imports in September. Ongoing reforms, including digitisation and AI-based data integration, are anticipated to enhance revenue collection. However, failure to meet the target could lead to IMF-mandated additional revenue measures.<\/p>\n","protected":false},"author":88,"featured_media":87304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[54453,19230,59244,21797],"persona":[],"class_list":{"0":"post-98908","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-fbr-news-and-updates","9":"tag-federal-board-of-revenue-fbr","10":"tag-imf-targets","11":"tag-international-monetary-fund-imf","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR Falls Short, Remains Under IMF-Set Target - Zameen News<\/title>\n<meta name=\"description\" content=\"FBR collected PKR 1,456 billion in July-August,. September&#039;s target is PKR 1,196 billion to meet IMF goals, per September 2 report.\" \/>\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\/fbr-falls-short-remains-under-imf-set-target.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Falls Short, Remains Under IMF-Set Target - Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR collected PKR 1,456 billion in July-August,. September&#039;s target is PKR 1,196 billion to meet IMF goals, per September 2 report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-falls-short-remains-under-imf-set-target.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-02T06:05:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-02T07:11:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2022\/07\/IMF-Pak.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Zohaib Nasir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR Falls Short, Remains Under IMF-Set Target - Zameen News","description":"FBR collected PKR 1,456 billion in July-August,. 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