FBR sets tax collection target at Rs300b for July
In first 17 days, revenue collection stands at Rs170 billion
PHOTO: FILE
ISLAMABAD:
The Federal Board of Revenue (FBR) has set the tax collection target at Rs300 billion for July 2019.
However, it is likely to report revenue shortfall in the very first month of current fiscal year 2019-20.
According to sources within the FBR, the tax collection in the first 17 days of July stood at Rs170 billion while the remaining Rs130 billion has to be collected in 14 days.
Sources said the FBR had fixed July 3 as the deadline for the tax amnesty scheme and the three-day extension brought remarkable revenues for the tax collection agency.
FBR chief may be made PM’s aide on revenue
However, the FBR could only collect Rs170 billion despite receipts under the scheme. Officers and employees working for the FBR and the departments under its umbrella have been under immense pressure as they anticipate more reshuffling.
Consequently, work at FBR’s field formations has slowed down while revenue collection has been adversely affected.
On the other side, the FBR, while taking notice of widespread uncertainty and fear among its employees, on Thursday issued an office order, informing all officers that no transfers and deputations would take place on a large scale after the beginning of new fiscal year. Transfers would only be made based on the need for departmental reforms and corrective measures for revenue collection, the FBR order stated.
The order asked all senior officers and staff of the tax collecting agency to put maximum possible focus on revenue collection. They were advised to utilise all resources at their disposal and ensure collection of taxes in their designated areas and territories.
They were also asked to assist taxpayers in all possible ways and pave the way for broadening the tax base through support for business and economic activities.
Published in The Express Tribune, July 19th, 2019.
The Federal Board of Revenue (FBR) has set the tax collection target at Rs300 billion for July 2019.
However, it is likely to report revenue shortfall in the very first month of current fiscal year 2019-20.
According to sources within the FBR, the tax collection in the first 17 days of July stood at Rs170 billion while the remaining Rs130 billion has to be collected in 14 days.
Sources said the FBR had fixed July 3 as the deadline for the tax amnesty scheme and the three-day extension brought remarkable revenues for the tax collection agency.
FBR chief may be made PM’s aide on revenue
However, the FBR could only collect Rs170 billion despite receipts under the scheme. Officers and employees working for the FBR and the departments under its umbrella have been under immense pressure as they anticipate more reshuffling.
Consequently, work at FBR’s field formations has slowed down while revenue collection has been adversely affected.
On the other side, the FBR, while taking notice of widespread uncertainty and fear among its employees, on Thursday issued an office order, informing all officers that no transfers and deputations would take place on a large scale after the beginning of new fiscal year. Transfers would only be made based on the need for departmental reforms and corrective measures for revenue collection, the FBR order stated.
The order asked all senior officers and staff of the tax collecting agency to put maximum possible focus on revenue collection. They were advised to utilise all resources at their disposal and ensure collection of taxes in their designated areas and territories.
They were also asked to assist taxpayers in all possible ways and pave the way for broadening the tax base through support for business and economic activities.
Published in The Express Tribune, July 19th, 2019.