ISLAMABAD – The Federal Board of Revenue is finding it difficult to achieveits target of collecting Rs4.4 trillion annual taxes as it suffered lossesworth Rs191 billion in ten big sectors during the first seven months of FY2018-19.
The sectors include Telecom, Petroleum, Goods and Services, Pakistan StockExchange, Banking, Automobile, Salaried Class, Food Products and otherorganised sectors.
The government faced a tax revenue shortfall of Rs 43.88 billion in thepetroleum sector due to a reduction in the sales tax rates from July toDecember, 2018.
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Sales tax collection on import of petroleum products reduced from Rs94.19billion to Rs50.30 billion during the period, according to FBR.
