The Federal Board of Revenue with Herculean efforts has succeeded in provisionally amassing Rs 1554 billion during July-June 29, 2011 against the target of Rs 1,588 billion, confirming possible achievement of the revenue collection target by June 30, 2011.
Talking to Business Recorder on Wednesday, FBR Chairman Salman Siddiq said that the tax machinery has provisionally collected Rs 1554 billion till June 29 and it is expected that the Board will surpass the target assigned by the federal government. The monthly revenue collection in June 2011 stood at Rs 242 billion against the target of Rs 276 billion and the remaining amount of Rs 34 billion would be collected on June 30, 2011.
FBR Chairman further said that the effective enforcement, monitoring and hectic efforts of the field formations has enabled the Board to achieve the desired results during 2010-2011. Salman Siddiq added that the revenue collection target of Rs 1588 billion would be amassed on Thursday (today) following compilation of final figures from the field formations.
Meanwhile, a senior tax official said that with efficient planning all the Large Taxpayer Units (LTUs) have been able to reach the assigned revenue collection targets for 2010-2011. LTU Lahore has been able to achieve revenue collection target of Rs 110 billion and hopefully it would surpass the assigned target.
The revenue collection target of LTU Islamabad was fixed at Rs 300 billion and around Rs 293 billion has been collected so far. The LTU Islamabad would definitely meet its revenue collection target. The FBR had assigned target of Rs 568 billion to the LTU Karachi. As compared to the target, the LTU Karachi has been able to collect Rs 563 billion and it is expected that the collection would reach Rs 570 billion on June 30. Thus, all LTUs have shown remarkable achievement in revenue collection as per targets assigned by the Board, the official added.
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