FBR seeks steps to meet tax target

Conference called to invite proposals from tax officials.


Express May 04, 2011

ISLAMABAD:


The Federal Board of Revenue (FBR) has called a conference on May 5 which will review proposals of chief commissioners of Inland Revenue for imposing new taxes in the budget for 2011-12.


Sources told The Express Tribune on Tuesday that FBR had also issued instructions to field formations to submit proposals for short-term revenue-generating measures to meet the revised target of Rs1,588 billion this fiscal.

According to details, the conference will review impact of major revenue measures taken through Finance Act 2010, revenue collected through capital gains tax, advance tax on transactions in banks, advance tax on purchase of tickets for domestic air travel and withholding tax of Re1 per kg for transport goods vehicles.

The conference will also discuss progress on the expeditious refund system for reducing pending claims with special focus on sales tax refund claims of up to Rs50,000. Problems in the system and status of post-refund audit will also be reviewed.

The conference will also focus on proposed legal and procedural changes in the Income Tax Ordinance 2001 and other tax laws for improving compliance.

The meeting will consider priority cases where tax officials are certain about available information so that the short time left is effectively utilised for generating more revenue and bringing people into the tax net.

Published in The Express Tribune, May 4th, 2011.

COMMENTS (1)

Haroon Rashid | 12 years ago | Reply Being speaker at the World Consumer Day Mid March at the Karachi Marriot theme of 2011 Consumer Finance. My submission at the conference was "Banking the Un-Banked". We know it well how important this sector for the taxation view point. My advocacy is the deployment of Debit Cards to be issued to the holders of the CNIC from NADRA data base. The banks are eager to come forward to issue at zero balance the Debit Card. Benefit of the debit card is Zero subscription. No fee to the merchant, no charges to the consumer. With this premise the FBR should consider the realisation of sales tax at the retailing which the un-documented sector do not realise. Merchants will announce incentives for card purchases, reduced prices and cash dis-advantage, risks, in-convenience. The issuance of sign-up of merchants at the street grocery, cobler, tailor, doodh/dahi wala, naswar wala, pan wala, sharbat wala on the street is to bring them on the tax net. To be a merchant qualify for a merchant account bearer he should have a CNIC and an NTN which will legitimise his trade and taxes will be charged on all commodities, pan, cigarette, naswar, and doodh patti chai. We know it well the merchants likely evasion enormous on the sales tax. Also the refund of sales tax, GST to the eligible is cumbersome. We have access to the system in the EU which spot refund of GST of tax. That can be easily deployed in Pakistan, and the tax recovery can be speedily implemented.
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