ISLAMABAD: In the aftermath of the verdict of Federal Constitutional Court validating the Super Tax, the Federal Board of Revenue (FBR) is all set to collect approximately Rs150-200 billion during the ongoing quarter (Jan-March) to minimise the revenue shortfall.
The FBR high-ups are awaiting the written verdict of the apex court and expect to get its copy on Wednesday (today), after which two working days are left in which the tax machinery is planning to fetch Rs50 to 60 billion to materialise the tax target of Rs1,031 billion set for January 2026.
“We have informed the IMF of the collection of Rs200 billion through Super Tax in the aftermath of the decision from the apex court. Although, the pending liability has been worked out at Rs300 billion, for all practical purposes, the expected recovery will be hovering around Rs150 to Rs200 billion. The FBR plans to secure this amount within the ongoing quarter of the current fiscal year to minimise revenue shortfall,” top official sources confirmed to The News here on Tuesday.
Under the existing structure, Super Tax is imposed at rates ranging from one percent to ten percent, depending on annual profits. Companies earning between Rs150 million and Rs200 million annually are subject to a one percent Super Tax, while profits of up to Rs250 million attract a 1.5 percent rate. Profits up to Rs300 million are taxed at 2.5 percent, up to Rs350 million at 3.5 percent, up to Rs400 million at 5.5 percent, up to Rs500 million at 7.5 percent, and profits above that threshold face a Super Tax of up to ten percent. The tax applies mainly to large companies, banks and other highly profitable sectors.
In first six months (July-Dec) period, the FBR has collected Rs6161 billion, facing a revenue shortfall of Rs329 billion in achieving the target agreed with the IMF.
For the end of March 2026, the FBR and the IMF have agreed on a collection of Rs9,917 billion; the FBR requires a collection of Rs3,756 billion in Jan to March period to achieve the fixed target.
The Ministry of Finance has issued budget strategy guidelines to the FBR, directing that any revenue shortfall be addressed through improved tax collection rather than new taxation measures, with no additional taxes to be imposed.
