The Federal Board of Revenue (FBR) has failed to achieve the tax collection targets set for the first half (July to December) of the current fiscal year 2025–26, as well as the monthly target for December 2025.
According to sources, FBR faced a revenue shortfall of approximately 21 billion rupees in December 2025. Data shows that during December 2025, FBR collected provisional net tax revenues of 1,425 billion rupees, against a target of 1,446 billion rupees.
Similarly, during the first half of the current fiscal year (July to December), FBR’s total provisional net tax collection stood at 6,169 billion rupees, which is 321 billion rupees less than the assigned target of 6,490 billion rupees. Sources said that the shortfall during the first five months was 315 billion rupees, which increased further after December. They added that once the final figures for December are compiled, the shortfall may reduce slightly; however, the overall situation remains alarming.
Due to the significant decline in the first half of the fiscal year, achieving the revised annual tax target of 13.9 trillion rupees for the current fiscal year is becoming a major challenge for FBR. It is worth noting that in view of flood-related devastation in the country, FBR had persuaded the IMF to revise the tax collection target downward from 14,131 billion rupees to 13.9 trillion rupees. However, due to the persistent revenue shortfall, even this revised target now appears to be at risk.
According to FBR sources, July 2025 was the only month in the current fiscal year in which tax collections exceeded the target. Reports indicate that in July, 757 billion rupees were collected against a target of 748 billion rupees. After that, collections fell short of targets: 901 billion rupees against 950 billion in August, 1,228 billion against 1,325 billion in September, 951 billion against 1,026 billion in October, and 895 billion against 995 billion in November. In December as well, revenue collection remained 21 billion rupees below the target.
