FBR begins monitoring to achieve Rs 1.025 trillion revenue target

The Federal Board of Revenue (FBR) has started daily monitoring of customs duty collection on import of goods as part of its strategy to meet the Rs 1.025 trillion revenue collection target in 2007-08.
Sources told Business Recorder on Wednesday that the board-in-council meeting, chaired by FRB Chairman M. Abdullah Yusuf, directed the Member, Customs, to ensure proper monitoring of customs duty collection for improving sales tax and withholding tax amassing at the import stage.
The sales tax and withholding tax collection on imports would automatically improve through 24 hours monitoring of import consignments. Even customs duty collection was below target in 2006-07. Therefore, the department would have to remain vigilant in assessing duties and taxes on imports and exports in 2007-08.
Sources said that the board-in-council discussed threadbare the policy strategy to meet the target. The FBR has been making all-out efforts in the start of the new fiscal year to meet the Rs 1.025 trillion target. The initial estimates of direct taxes, sales tax, customs duty and federal excise duty (FED) have been prepared, but the same would be finalised after consulting relevant members. Some changes in taxation and relief measures for 2007-08 would also be taken into account before finalising quarter-wise break-up for new fiscal year.
The board-in-council also directed FBR Members to learn from the lapses and omissions of 2006-07 for maintaining growth momentum in the current year to surpass quarter-wise revenue targets. The Members were directed to keep in mind that the new fiscal year has started from July 1, 2007. Thus, the plan should be implemented from the start of 2007-08 to meet the target.
Sources said that the FBR Chairman directed the Member Customs to submit forthwith the report on the launching of post-clearance audit (PCA). If electronic PCA system needs some time, the project should be started manually, without delay he said. In the meeting, the idea of conducting audit of information technology (TI) projects launched under the reform process was also discussed.
Tax authorities directed the Member Human Resource Management to chalk out rules and regulations under Federal Board of Revenue Act, 2007 for implementation of the appeals process under Internal Job Posting (IJP).
The board-in-council rejected the new organisational structure of Facilitation and Taxpayer Education Wing (FATE) submitted by the communication consultant, which envisaged 25-30 more personnel to carry out the job effectively. CBR Member Human Resource Management (HRM) expressed some reservations over the implementation of the scheme. The board-in-council did not approve the communication policy submitted by the consultant. Sources said that the FBR Chairman directed the consultant to actively work on the project of Compliant Cell to facilitate taxpayers.
The Chief Executive of Pakistan Revenue Automation Limited (PRAL) gave a presentation on different IT related projects including 'One Customs'; Tax Management System (TMS); Sales Tax Management System (STMS); Nexus; Legal Affairs Management System and Audit Management System. Some FBR members inquired about security checks in these systems. Later, sweets were distributed for surpassing the revenue target for 2006-07.