FBR says revenue performance remains stable, rejects tax shortfall claims

ISLAMABAD: Speculation regarding a large tax shortfall is not based on facts, according to the Federal Board of Revenue (FBR), which says its revenue performance remains stable under revised targets.

Fresh data shows that tax collections are continuing in line with the updated revenue goals, officials said.

Advisor to the Finance Minister Khurram Shehzad stated that claims of an Rs864 billion tax shortfall are based on the earlier target of Rs14,130 billion, which he called misleading.

He explained that after changes in economic conditions and consultations with the International Monetary Fund (IMF), the revenue target was revised to around Rs13 trillion.

He added that revising financial targets due to inflation, imports, and global economic shifts is a normal practice.

According to the revised framework, FBR has shown strong performance and has nearly achieved its target for the first 11 months of the fiscal year.

FBR collected Rs11,257 billion in taxes during the first 11 months, while Rs994 billion was collected in May alone.

In May, the tax authority achieved 97% of its monthly target and 99.8% of the 11-month target, officials said.

The advisor said these figures clearly reject claims of a revenue crisis or a major tax shortfall.

He added that the June 2026 revenue target of Rs1,727 billion is achievable under the revised financial plan, which reflects a 15% growth rate.

He urged businesses and investors to avoid speculation about extraordinary tax measures and focus on updated economic data instead of outdated targets.