Rs536.53bn target for Nov: ‘Pull your socks up,’ FBR chief tells Chief Commissioners

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Asim Ahmad Thursday directed Chief Commissioners of field formations in Karachi to intensify enforcement efforts to ensure the achievement of the assigned target of Rs536.53 billion during November 2022.

Sources told Business Recorder here on Thursday that the FBR chairman chaired the Chief Commissioners conference at Large Tax Office (LTO), Karachi.

The chief commissioners of all Regional Tax Offices, Medium Tax Offices (MTOs) and Corporate Tax Offices of Karachi gave detailed presentations to the tax authorities.

The breakup of target of November2022 revealed that the target of income tax has been projected at Rs184.91 billion; sales tax Rs221.52 billion; federal excise duty (FED) Rs34.6 billion, and the target of customs duty has been projected at Rs95.5 billion.

The conference discussed the strategy to meet the second quarter (2022-23) to overcome a revenue shortfall of Rs21 billion in October 2022.

FBR crosses Rs2trn collection mark

The FBR chairman further directed the Chief Commissioners to enforce the filing of returns and focus on the recovery of arrears and clear pending cases in courts and appeals.

The chief commissioners of Regional Tax Offices of Quetta and Hyderabad also gave presentations to the FBR chairman.

On Friday, the FBR chairman would chair the Collectors of Customs conference at Karachi.

The FBR is working on a strategy to meet the revenue collection target set for second quarter (October-December) 2022-23 in consultation with the Chief Commissioners of the LTOs/MTUs/RTOs etc.

Sources said that the target for the month of October 2022 was set at Rs534 billion. The tax projections for the second quarter (October-December) 2022-23 has been estimated at Rs2,036.087 billion. In the first quarter of 2022-23, the FBR collected Rs1,635 billion.

The tax collection of the FBR stood at nearly Rs513 billion in October 2022 against the target of Rs534 billion, depicting a massive shortfall of Rs21 billion.

The tax collection during July-October (2022-23) amounted to Rs2,148 billion against the target of Rs2,143 billion, reflecting an increase of Rs5 billion.

The tax collection stood at Rs513 billion in October 2022 against Rs446.5 billion collected in October 2021, reflecting an increase of Rs65.5 billion.

Copyright Business Recorder, 2022