A meeting on the FBR performance was held here on Monday with Dr Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance and Revenue, in the chair. The meeting was attended by the Deputy Chairman Planning Commission, Chairman FBR, Secretary Finance, Secretary Planning and officials of the Finance Ministry and the FBR.
The meeting concluded that the revenue efforts are on track with the expectation of meeting the budgetary target of Rs 1952 billion for FY12. Analysis of month to month performance figures for the first seven months and for the remaining months of the year was reviewed. Chairman FBR apprised the meeting that the FBR's net collection for the first 7 months was around Rs 975 billion, which is a growth of more than 26 percent over same period last year.
Administrative revenue efforts of FBR were also thoroughly scrutinised. In the first seven months these administrative measures generated about Rs 40 billion. Advisor on Finance and Revenue outlined additional administrative efforts of Rs 50 billion, which will be needed in the remaining four months of FY12. These efforts would focus on audits, broadening of tax base, and collection from demands created, stuck-up arrears and recovery of illegal sales tax adjustments.
A detailed presentation on progress on broadening of direct tax base was made. The Advisor on Finance and Revenue instructed the FBR to accelerate the pace of registration of new taxpayers. The advisor reviewed the performance of each tax region laying out a plan for the Chairman FBR to further strengthen the performance of the concerned chief commissioners to ensure fulfilment of their targets. -PR
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