Pakistan’s Federal Board of Revenue (FBR) is facing a revenue shortfall of Rs372 billion during the current fiscal year from July to January, according to official documents.
As of the latest count, FBR has collected Rs986 billion in taxes for January 2026, falling short of the monthly target of Rs1,031 billion, sources within the FBR said. However, officials expect the collection to approach the target by the end of the day, as all Large Taxpayer Offices (LTOs), Medium Taxpayer Offices (MTOs), corporate tax units, and Regional Tax Offices remain operational.
During the July January period, total tax collection stood at Rs7,147 billion against a target of Rs7,521 billion. In comparison, tax collection during the same period of the previous fiscal year (2024–25) amounted to Rs6,699 billion.
Breakdown of January collections shows income tax receipts reached Rs465 billion against a target of Rs452 billion. Sales tax collection remained below expectations, with Rs352 billion collected against a target of Rs387 billion. Customs duty collection stood at Rs107 billion compared to the Rs126 billion target, while Federal Excise Duty (FED) reached Rs61 billion against a target of Rs65 billion.
FBR issued Rs47 billion in tax refunds during January, bringing total refunds from July to January to Rs340 billion. In the corresponding period last fiscal year, refunds amounted to Rs314 billion.
Looking ahead, FBR expects to collect Rs200 billion under the super tax between January and March. Under its agreement with the International Monetary Fund (IMF), Pakistan is required to collect Rs9,917 billion in tax revenues by March 2026. To meet this commitment, FBR must raise more than Rs2,765 billion in the remaining two months, sources added.
