The Federal Board of Revenue (FBR) has convened a Chief Commissio-ners' Conference on April 12, 2011 to review progress of the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) on the revenue collection particularly recovery of arrears and improvement in withholding tax collection.
Sources told Business Recorder here on Thursday that the Chief Commissioners conference would be convened at the FBR Headquarters on April 12, 2011. The conference would review the performance of the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to check whether the assigned targets have been achieved by the field formations. During the last Chief Commissioners' conference, the FBR had assigned targets to the field formations and now their progress would be reviewed. The Board had identified four major reasons of revenue shortfall in direct taxes during current fiscal (2010-2011) including unsatisfactory creation of current demand, low performance of withholding tax regime, slow progress in arrears recovery and stuck up amount in court cases. The shortfall is due to creation of unsatisfactory cases framed against the taxpayers below the mark.
The low performance of withholding tax regime is due to virtual monitoring of withholding tax. There are huge amount of arrears demands stuck up in courts as well. The Chief Commissioners conference would also review that whether the field formations have filed applications in the High Court for recovery of the income tax demand in cases where 6 months have been passed since grant of stays by various courts. The FBR had directed all LTUs and RTOs that fresh applications for vacation of stay orders shall be moved under the direct supervision of the Chief Commissioners who will submit report in the conference.