Federal Board of Revenue (FBR) has shared its plan with the International Monetary Fund (IMF) to address a significant revenue shortfall, as the country prepares for an upcoming IMF delegation visit.
According to Express News, the FBR’s strategy includes accelerating container clearances at ports, auctioning smuggled goods, and improving enforcement capacity.
Tax collection from under-taxed sectors and expediting legal cases in courts are also prioritised to meet revenue targets.
For January, the FBR faces an ambitious tax target of Rs960 billion. When adjusted for the existing Rs385 billion shortfall, the overall collection requirement rises to Rs1,340 billion. Officials confirmed that all necessary measures are being implemented to ensure compliance.
The IMF delegation is expected to review the progress on these reforms and other fiscal commitments.
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