Advisory Finance directs FBR to increase revenue collection

Advisory Finance directs FBR to increase revenue collection

Posted on Jan 2, 2020

ISLAMABAD: In view of the shortfall in the Revenue Collection, the Prime Minister's Adviser to the Treasury, Dr Abdul Hafeez Shaikh, held a meeting with top tax officials and expressed gratitude for the performance of the Federal Board of Revenue in the first half of this fiscal year.

According to the report, on the first visit of the FBR on 20 April 2019, after taking over the position, the Adviser Treasury instructed the FBR officials to take extraordinary steps to meet the target of Rs 50 billion 23 billion for revenue collection. Was

Official sources quoted the meeting as saying that the Advisor Treasury appreciated FBR's performance over the past two years and expressed dissatisfaction with this year's performance.

Advisor Treasury asked FBR officials about next year's plan, saying "Where is your plan and why don't you tell me about it, my economic team about your plans. Why not talk to him, he said his team was capable of increasing the revenue collection.

Regarding the FBR reorganization, the adviser treasury asked FBR officials whether they liked the current FBR structure, saying they had not considered any restructuring plan, so the reforms Together with mindfulness, we have to decide how to modernize the tax machinery.

Assuring full support to the FBR chairman, the adviser treasury allowed Shibar Zaidi to remove officers whom he deemed incompetent or incompetent.

According to a statement issued by the finance ministry, Dr Abdul Hafeez Sheikh directed the FBR to register 20,000 sales points in the country fast.

Speaking on the occasion, Chairman FBR Shabar Zaidi said that the company is paying more attention to the automated system, resulting in all automation of all communication with taxpayers including registration, certificate issuance, return filing, audit and monitoring. Have been

He claimed that the FBR gave a tax refund of Rs 1 trillion this year, compared to a refund of Rs 36 billion last year.

In addition, he gave a detailed briefing to the Finance Treasurer regarding this year's revenue collection as compared to the previous year.

Chairman FBR said that FBR collected 208 trillion 32 billion rupees in the July-December period, which is 16.3 percent more than the previous year's one hundred 79 trillion 9 billion.

Speaking about the local tax collection, Chairman FBR said domestic income tax collections had seen a significant increase of 21% while domestic slashes tax increased by 34%, domestic federal excise duty increased by 25.6%.

This year, which contributed Rs 17 trillion to 20 billion in domestic revenue, compared to Rs 9 trillion 34 billion 50 crores last year.

On the other hand, the tax collection rate in the export phase was negative, which is mainly due to the decline in imports. Similarly, the customs tax collection stood at Rs. 3 trillion, Rs. Shows a decrease




Mian Tajamul

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