The Federal Board of Revenue (FBR) is facing a revenue shortfall of Rs198 billion in the first quarter of the fiscal year 2025, official sources confirmed on Wednesday.
From July to September, FBR collected Rs2,885 billion against the target of Rs3,083 billion.
The biggest dent came in September alone, when collections fell short by Rs138 billion. Against a target of Rs1,368 billion for the month, the FBR managed to collect Rs1,230 billion, according to sources.
Officials say the final figures for September are expected in the coming days, with a possibility of some reduction in the reported shortfall.
Despite the gap in revenue, FBR noted an encouraging sign: income tax return filers have now crossed 4 million. This increase comes at a time when authorities are urging greater compliance to meet ambitious collection targets.
Deadline for tax returns extended
In a separate development, the FBR extended the deadline for filing income tax returns until October 15, 2025. The extension, granted under Section 214A of the Income Tax Ordinance 2001, provides taxpayers additional time to fulfill their obligations.
The decision followed repeated appeals from trade bodies, tax bar associations, and the general public, who cited difficulties in meeting the earlier deadline due to technical and procedural challenges.
