FBR's tax collection shortfall widening.

ISLAMABAD -- Tax collection shortfall of Federal Board of Revenue (FBR) is widening in every passing month despite the fact that the government had imposed massive taxation measures in the budget for current fiscal year.

The FBR has collected Rs320 billion in October 2019 as against the target of Rs370 billion. Chairman FBR Shabbar Zaidi on Thursday said that FBR has collected Rs320 billion during the month of October 2019.

He further said that FBR has maintained overall increase over last year of 16 percent and domestic tax over 25 percent.

This is after taking into account negative aspect of import contraction of around Rs 50 billion, chairman FBR said on his social media account.

Meanwhile, the FBR has collected Rs1283 billion in first four months (July to October) of the ongoing fiscal year as against the target of Rs1441 billion. The FBR has faced Rs158 billion shortfall in four months period.

The government had set challenging tax collection target of Rs5550 billion for the current fiscal year.

However, the government could not achieve the target without additional revenue measures after facing massive shortfall in tax collection in four months.

Meanwhile, the FBR has given another opportunity to the non-tax filers to file their income tax returns by extending the deadline for another one month.

The FBR has extended the deadline aimed to increase the number of tax filers, which had already shown healthy growth in the current year.

'In exercise of the powers conferred under Section 214A of the Income Tax Ordinance, 2001, the Federal Board of Revenue is pleased to extend the date of filing of Income Tax Returns/Statements for the Tax Year 2019.

The date of filing of total income/statements of final taxation for Individuals and Associations of Persons for the Tax Year...