The Federal Board of Revenue (FBR) has once again failed to meet its monthly tax revenue target, with the tax shortfall in the first 11 months of the current fiscal year likely to exceed Rs860 billion.
According to sources, the tax collection target for May 2026 was Rs1.15 trillion. However, the FBR has so far collected Rs965 billion in taxes, leaving a revenue gap of between Rs185 billion and Rs190 billion for the month.
Tax offices will remain open on the final day of the month, and a further improvement in revenue collection is expected.
The tax shortfall during the first 11 months of the current fiscal year is likely to exceed Rs860 billion. FBR officials said the shortfall during the first 10 months of the fiscal year stood at Rs683 billion.
The FBR's annual tax collection target for the current fiscal year was set at Rs14.131 trillion. However, following consultations with the International Monetary Fund (IMF), the target was revised down to Rs13.989 trillion.
Despite the downward revision in the annual target, challenges in revenue collection persist. Meanwhile, a proposal has been put forward to set the FBR's annual tax target for the next fiscal year at Rs15.267 trillion.
