Finance Minister Shaukat Aziz has said that the government has fixed Rs 580 billion as revenue collection target for next fiscal year.
He appreciated CBR performance while launching 'Economic Survey 2003-04' here on Friday.
He said that the CBR would comfortably achieve the target of Rs 510 billion set for the current fiscal year.
The 'Economic Survey' shows that the CBR has successfully achieved the revenue targets due to improvement in the macroeconomic indicators.
The continuation of tax and administrative reforms process has also played an important role in achieving the laid down target, he added.
It is anticipated that the structural re-organisation of CBR at field level, supported by automation, will further boost tax compliance.
Overall net collection surpassed the July-April target of Rs 388.8 billion by Rs 8.4 billion, or 2.2 percent.
The gross and net (provisional) collections during the first ten months of the current year stood at Rs 466.5 billion and Rs 397.2 billion, respectively, registering growth of 11.0 percent and 12.8 percent over the corresponding period of last year.
The overall refund/rebate payments during the first ten months of the current year have amounted to Rs 69.3 billion. This broad-based growth of the leading federal taxes was consistent with the performance of the economy, especially the growth of GDP, domestic industrial production and sales, and the level of total and dutiable imports.
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