An additional one hundred thousand tax payers will be brought in the net in each of the following two years. PHOTO: FILE
The Senate was informed on Thursday that a fresh initiative, launched by the government to expand the tax net, will bring 100,000 new potential tax payers in the net during the current financial year, according to Radio Pakistan.
The Minister for Kashmir Affairs and Gilgit-Baltistan Barjees Tahir informed the House during the question hour that under the initiative, an additional 100,000 tax payers will be brought in the net in each of the following two years.
He said that the Federal Board of Revenue (FBR) has set a target of Rs509 billion for the first quarter of the current financial year.
The minister also said that the growth rate achieved during the first quarter of the current financial year was 16% as compared to an 8% growth rate recorded during the same period in the preceding financial year.
IMF
Tahir said from June 2012 to November 2013‚ the government received an amount of $5,44.5 million from the IMF under the Extended Fund Facility.
He said the government paid back over $4,706 million to the IMF for the same period.
He said home remittances worth over $21,445 million were received from overseas Pakistanis during June 2012 to November 2013, registering a growth of 5.78% over the same period in the preceding year.
Power projects
About the two nuclear reactors coming up in Karachi, Minister for Parliamentary Affairs Shaikh Aftab Ahmed informed the House that their technology has been acquired from China and a detailed hazard study has already been carried out by the experts.
He said 29 such projects are under completion in China, while 15 are already in operation.
He further said a 137-megawatt project has been working in Karachi since 1972 with the assistance of Canada.
The minister said work is also under way on two projects of 340 megawatt each at Chashma. These projects will be completed by 2016, he added.
He concluded that the nuclear reactor technology is safe and all precautionary measures have been taken.
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amensties and tax net - lethal combo
is nawaz and sharif family among the new tax payers list yet?
Please start with senators, MNA's and MPA's paying their tax honestly, if law makers do not pay their tax honestly how do you expect to bring others in tax net.
Although this is a good move but more emphasis should be given on agricultural-income tax. Big landlords/feudals are going scot-free whereas the working class and entrepreneurs are heavily taxed!
What about the rest of the 179.9 million?
Seeing is believing . I have been hearing these numbers for the last six yrs now. It used to be 700000 then they came down to 500000. Now the new number is 100000. Shame on the part of FBR. Next time they should announce the numbers, when they have already taken the taxes from the new tax payers. Period.