Tax collection falls short by Rs35 bn in six months: FBR Chief

The Federal Board of Revenue (FBR) has collected Rs437 billion in the first half of the current fiscal year against the projected revenue collection in the period reflecting a revenue loss of Rs35 billion.
Talking exclusively to Geo News, FBR Chairman Abdullah Yusuf said there will be a rise in the overall production in the coming weeks with improvement in electricity and gas supply, raising the level of tax revenue collection.
He said FBR will make all out efforts to cover the shortfall of 35 billion. Tax leakages will also be plugged, he added.
With the adoption of effective tax reforms, the tax to GDP ratio has registered a 0.2 per cent YoY. Expressing his confidence on the corporate returns, Abdullah Yusuf pointed out that the 10 to 12 per cent increase is being witnessed in corporate returns.