AVN 67.60 Increased By ▲ 0.50 (0.75%)
BAFL 30.99 Decreased By ▼ -0.01 (-0.03%)
BOP 4.91 Increased By ▲ 0.01 (0.2%)
CNERGY 3.74 Decreased By ▼ -0.04 (-1.06%)
DFML 14.03 Decreased By ▼ -0.40 (-2.77%)
DGKC 41.11 Decreased By ▼ -0.74 (-1.77%)
EPCL 46.58 Increased By ▲ 0.01 (0.02%)
FCCL 11.60 Decreased By ▼ -0.09 (-0.77%)
FFL 5.03 Decreased By ▼ -0.04 (-0.79%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.34 Decreased By ▼ -0.08 (-0.77%)
HUBC 68.04 Increased By ▲ 0.04 (0.06%)
HUMNL 5.74 Decreased By ▼ -0.02 (-0.35%)
KAPCO 28.02 Decreased By ▼ -0.08 (-0.28%)
KEL 2.26 Decreased By ▼ -0.03 (-1.31%)
LOTCHEM 25.02 Decreased By ▼ -0.03 (-0.12%)
MLCF 21.45 Decreased By ▼ -0.24 (-1.11%)
NETSOL 87.66 Increased By ▲ 1.66 (1.93%)
OGDC 99.30 Increased By ▲ 6.92 (7.49%)
PAEL 11.00 Decreased By ▼ -0.09 (-0.81%)
PIBTL 4.26 Increased By ▲ 0.02 (0.47%)
PPL 81.12 Increased By ▲ 0.97 (1.21%)
PRL 13.23 Decreased By ▼ -0.41 (-3.01%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 43.85 Increased By ▲ 0.38 (0.87%)
TELE 6.12 Increased By ▲ 0.16 (2.68%)
TPLP 15.66 Decreased By ▼ -0.07 (-0.45%)
TRG 118.99 Increased By ▲ 3.98 (3.46%)
UNITY 14.01 Increased By ▲ 0.16 (1.16%)
WTL 1.23 Increased By ▲ 0.07 (6.03%)
BR100 4,171 Increased By 47 (1.14%)
BR30 15,253 Increased By 323.5 (2.17%)
KSE100 41,523 Increased By 332 (0.81%)
KSE30 15,663 Increased By 168.9 (1.09%)
Follow us

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

Comments

Comments are closed.

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

FY24 budget: FBR invites proposals on income tax

AIIB chief economist briefed about state of economy

Dar inducts four new members into ‘RRMC’

Reason behind cut in PSDP disbursement identified

Rs 417bn received by KP: Cabinet decides to conduct audit

Thar coal-based power plant: COD achieved

Power breakdown of Jan 23: Senate panel directs Power Division to conduct probe

LCCI says wants ‘charter of economy’, not elections

TAPI gas pipeline: Pakistan willing to go ahead with or without India

Rs650bn collection likely: 1pc hike in ST thru ordinance on the cards