The Federal Board of Revenue (FBR) has reported a revenue shortfall of Rs198 billion in the first quarter of fiscal year 2025, according to official sources.
From July to September, FBR collected Rs2,885 billion against the target of Rs3,083 billion. September alone accounted for the largest deficit, with collections falling Rs138 billion short of the monthly target. The board collected Rs1,230 billion against a target of Rs1,368 billion, sources said.
Final figures for September are expected in the coming days, which may slightly adjust the reported shortfall. Despite the gap, income tax return filings have surpassed 4 million, reflecting a positive trend in compliance.
Deadline extension
Separately, the FBR extended the deadline for filing income tax returns to October 15, 2025, under Section 214A of the Income Tax Ordinance 2001. The extension responds to requests from trade bodies, tax bar associations, and the public, citing procedural and technical difficulties with the previous deadline.
