FBR field offices to remain open on May 30, 31 for tax collection

LAHORE: The Federal Board of Revenue (FBR) said that all its field formations across the country will remain open on Saturday and Sunday, May 30 and 31, for the collection of duties and taxes.

According to an official statement, all Large Taxpayers’ Offices (LTOs), Medium Taxpayers’ Offices (MTOs), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs) will treat both days as routine working days.

The decision comes as the tax authority faces pressure to improve revenue collection before the close of the current fiscal year.

Tax officials said the FBR missed its collection target by Rs684 billion during the first 10 months of the current fiscal year.

Officials attributed much of the shortfall to disruptions linked to the ongoing Middle East conflict, saying the gap between the target and actual collections had widened over the past two months.

They said the conflict affected trade flows, import volumes and economic activity, reducing tax receipts, particularly sales tax collected at the import stage.

In April alone, officials estimated the revenue impact of the conflict at around Rs40 billion, including a Rs15 billion shortfall in gas imports.

They said the estimate did not include the impact of austerity measures and a slowdown in consumption, which also affected economic activity and tax collection.