The Federal Board of Revenue (FBR) has reported a revenue shortfall of Rs198 billion during the first quarter of the fiscal year 2025, official sources confirmed on Wednesday.
From July to September, the FBR collected Rs2,885 billion against the set target of Rs3,083 billion. The biggest gap appeared in September, where the collection stood at Rs1,230 billion compared to the monthly target of Rs1,368 billion, creating a shortfall of Rs138 billion. Officials said final figures for September will be shared soon, and there is a chance that the reported shortfall may be slightly reduced.
Despite the gap in tax collection, the FBR highlighted one positive sign — the number of income tax return filers has now crossed 4 million. This increase shows progress in compliance, which is essential for achieving long-term revenue goals.
Meanwhile, in a move to provide relief to taxpayers, the FBR has extended the deadline for filing income tax returns until October 15, 2025. The extension, announced under Section 214A of the Income Tax Ordinance 2001, was granted after repeated requests from trade bodies, tax bar associations, and the general public. Many had complained about technical issues and procedural hurdles that made it difficult to meet the earlier deadline.
The extension gives taxpayers additional time to fulfill their obligations, while the FBR continues its efforts to boost compliance and close the gap in revenue collection in the coming months.
