The Federal Board of Revenue has failed to achieve its tax target during the first 10 months of the current fiscal year 2022-23, reported 24NewsHD TV channel on Monday.

The revenue shortfall from July 2022-April 2023 has reached Rs379 billion.

According to sources, the tax target for the first 10 months of the current fiscal year was set at Rs6,020 billion.

During April, FBR's tax shortfall was recorded at Rs101 billion.

The FBR was able to collect Rs485 billion in taxes last month while its target was Rs586 billion.

Sources said that it is possible that the FBR will accelerate its tax collection before giving a final shape to the total revenue collection.

To achieve the target, the FBR has to collect Rs2,000 billion in taxes in two months.

The annual tax collection target of the FBR has been fixed at Rs7,640 billion.

Reporter Waqas Azeem