ISLAMABAD: The Federal Board of Revenue (FBR) has realized Rs.134 billion revenues till August 26 as compared to Rs.110 billion collected in the same period of last fiscal year depicting a 20 percent growth in the tax collection of the country, a senior official of the board said.
"The PTI led sit-ins have entered its 12th day and despite the civil disobedience campaign even much productive tax collection with over 20 percent increase in the so far period of August as compared to the previous year", said Member Inland Revenue and Spokesman , Federal Board of Revenue (FBR) Shahid Hussain Asad told APP here on Tuesday.
He said that unlike other economic indicators, the protests and sit-ins did not dent the tax collection efforts of the government in current month.
Shahid Hussain said the ongoing sit-ins of the political parties in federal capital did not affect the tax collection efforts of the FBR as it collected Rs 134 billion till August 26, 2014 as compare Rs.110 billion in same month on fiscal years 2013-14.
He said that overall economic situation has slowdown due to the political situation of the country, however, FBR's collection was on track.
Shahid Hussain said that FBR has also collected Rs.138 billion by July 31, 2014, which is Rs. 1 billion higher than the tax collected in the same period of the Fiscal year 2013.
Replying to question, Spokesman of FBR said that civil disobedience call by Chairman Pakistan Tehrik-i-Insaf has negatively affected the foreign investment and economic situation of the country.
He added that although business community and traders from all over the country have rejected the civil disobedience call of the PTI chairman.
He said that sit-ins and agitations would cause huge loss to the national economy and also put a negative impact on the local business across the country.
Shahid Hussain said that after the sit-ins by both political parties the local stock exchange witnessed bearish trend in the current week, which had a negative impact on the economy.
Shahid Hussain Asad said that FBR is committed to broadening the tax net for strengthening the national economy and to enhance tax to GDP ratio in the country in line with the policy of the government.
Shahid Hussain Asad said that FBR plans to issue notices to those non- compliant persons, who have not filed their tax returns.
He expressed the hope that the business community would have benefit 0from these facilities extended by the government and businessmen would filed their tax returns for the economic prosperity of the country.
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