Tax machinery told to attain Rs two trillion collection: strategy to meet fiscal year 2013 target evolved

The Federal Board of Revenue on Saturday evolved a strategy to meet revenue collection target for fiscal year (2012-13) directing Chief Commissioners and Collectors of Customs to make extraordinary efforts to cross Rs 2,000 billion by end of this fiscal year.
Sources told Business Recorder here on Saturday that FBR Chairman Ansar Javed convened a revenue monitoring meeting at Lahore which was attended by Chief Commissioners of Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) and Collectors of Customs from Punjab except Rawalpindi.
The FBR Chairman held separate meetings with the high-ups of Inland Revenue Services and Pakistan Customs Services. All the said Chief Commissioners of Large Taxpayer Units, Regional Tax Offices (RTOs) and Collectors of Customs shared their difficulties in recovery of arrears and stuck up amount in courts. Tax authorities patiently heard to the shortcomings of the field formations and issued on the spot instructions to ensure recovery of stuck-up arrears, liquidation of pending cases involving substantial amount of revenue.
Chief Commissioners of LTUs and RTOs submitted their estimates for May 2013 along with expected revenue collection by the end of current fiscal. Based on the tax projections given by field officials, the Board has directed the Chief Commissioners and Collectors of Customs to maximise efforts for improving revenue collection in the remaining days of May 2013.
During the meeting, brainstorming session was held to evolve an effective strategy on the basis of revenue collection figures and estimates submitted by the field formations. Tax authorities have further directed the field formations to intensify their efforts to improve revenue collection in May 2013.
Sources said that the budgetary target of Rs 2,381 billion was revised downward to Rs 2,191 billion for 2012-13. The FBR target has been further slashed to Rs 2050 billion by the end of 2012-13. Later, the FBR had assured Ministry of Finance that the tax machinery would try its level best to reach the figure of Rs 2,050 billion by the end of current fiscal year.
The Board has to collect Rs 502.292 billion in remaining period of (May-June) 2012-13 to reach figure of Rs 2,050 billion. The current pace of revenue collection revealed that it would be an uphill task to even reach the figure of Rs 2,000 billion by the end of 2012-13, sources added.