{
  "id": 17530951,
  "title": "Four-month revenue target missed by Rs96bn",
  "url": "https://urgent.news/2026/11/01/four-month-revenue-target-missed-by-rs96bn",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-01T01:27:33.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2041335/four-month-revenue-target-missed-by-rs96bn"
  },
  "original_language": "en",
  "account": "Islamabad: The Federal Board of Revenue (FBR) reported on Saturday that it gathered Rs4.089 trillion over the first four months (July-October) of the current fiscal year (FY27), missing its target of Rs4.185 trillion by Rs96 billion. The shortfall was primarily due to a decline in income tax collection, coupled with only slight growth in customs duty receipts in October. Neither income tax nor customs duty collections met their respective targets for the period in question. On the contrary, sales tax and Federal Excise Duty (FED) collection outpaced their targets during the four months of the current fiscal year. Overall, revenue collection increased by 6 percent compared to Rs3.840 trillion collected during the same period last year. The FBR processed 7.660 million tax returns by October 31, a 28.93 percent year-on-year increase. Monthly revenue collection hit Rs1.003 trillion in October 2026, below the Rs1.132 trillion target by Rs102 billion, with growth of 5 percent compared to Rs951 billion in October 2025. The FBR has not extended the deadline for tax return submission, processing 7.660 million returns by October 31, up from 5.941 million in the same period last year, a 28.93 percent increase. In FY26, the FBR collected over Rs13 trillion, exceeding the revised target of Rs12.983 trillion by more than Rs21 billion. The government aims to collect Rs15.264 trillion annually in FY27. The FBR refunded Rs265 billion to taxpayers during July-October FY27, up from Rs206 billion in the comparable period last year, a 28.64 percent rise. Income tax collection totaled Rs1.861 trillion in the first four months of FY27, short of the Rs2.009 trillion target by Rs148 billion but grew by 4 percent compared to Rs1.797 trillion in the same period last year. Sales tax collection totaled Rs1.524 trillion, surpassing the Rs1.448 trillion target by Rs76 billion, a 12 percent rise from Rs1.360 trillion in the same period last year. Inflation, fueled by rising fuel prices, is driving up domestic sales tax revenues, particularly due to increased Petroleum Development Levy (PDL) and subsequent price hikes for other goods. Customs duty collection stood at Rs427 billion, below the Rs449 billion target, a Rs22 billion shortfall, marking a minor increase of Rs4 billion from Rs423 billion last year. Federal Excise Duty collection met the Rs278 billion target and rose by 7 percent from Rs260 billion in the corresponding period last year. Higher-than-expected PDL receipts also assisted in offsetting the revenue shortfall. The government leverages PDL proceeds to compensate for the revenue gap. Unlike general sales tax on petroleum products, which is collected by the FBR and shared with provinces under the NFC Award, PDL receipts belong exclusively to the federal government. Petroleum products are exempt from general sales tax.",
  "summary": "ISLAMABAD: The Federal Board of Revenue (FBR) announced on Saturday that it had collected Rs4.089 trillion during the first four months (July-October) of the current fiscal year (FY27), falling short of its target of Rs4.185 trillion by Rs96 billion. The shortfall was attributed mainly to negative growth in income tax collection, followed by marginal growth in customs duty receipts during…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}