The Federal Board of Revenue (FBR) failed to achieve the tax collection target for the current financial year.
According to the sources, FBR has collected revenues of 7 thousand 144 billion rupees till June 27, 2023, the tax target of FBR for the current financial year was 7 thousand 640 billion rupees.
The FBR managed to collect revenues short of the target of Rs 496 billion, a mini-budget of Rs 200 billion was brought in February to achieve the tax target.
Sources said that under the new measures, the sales tax rate was increased to 18 percent.
Sales tax on all imported luxury goods was raised to 25 percent.
Due to restrictions on imports and the economic situation, the tax collection has decreased, the tax collection has increased by 19% in the current financial year.
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