FBR fails to meet revenue target for first half of FY 2018-19
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ISLAMABAD - Pakistan Tax collection for the first half of the fiscal year FY 2018-19 registered decline.
As per the media report, the tax collection for the first six months (July-December) of the financial year 2018-19 was recorded at Rs1.79 trillion or a shortfall of Rs175 billion against the target set for the aforementioned period.
The shortfall recorded during July-December of FY18-19 was equal to 0.5% of gross domestic product (GDP), reports *Express Tribune.*
Due to a recurring shortfall in revenue collection, this has made it difficult to attain the revised target of a budget deficit of 5.6% of GDP or Rs2.2 trillion.
The provisional collection of the Federal Board of Revenue (FBR) during July-December FY18-19 stood at Rs1.79 trillion against the target of Rs1.96 trillion, said its officials.
