Minister for Finance, Economic Affairs and Revenue, Senator Mohammad Ishaq Dar on Wednesday chaired a high-level meeting at Federal Board of Revenue (FBR) to review progress of revenue collection in the current fiscal year. Special Assistant to Prime Minister on Revenue, Haroon Akhtar was also present.
Chairman FBR gave the meeting an update on the state of revenue collection in July-August 2017-18. He informed that over 24% growth in gross revenue has been registered in the first two months as compared to the corresponding period in FY 2016-17. He added that as against Rs 17 billion worth of refunds paid in July-August last fiscal year, Rs 36 billion have been refunded in the first two months of the current fiscal year. The net collection after refunds shows increase of 21.02%, over the last year, said a press release.
The Finance Minister was also apprised about FBR's robust awareness campaign utilizing electronic as well as social media for sensitizing existing as well as potential taxpayers to file their returns by the due date which is 30th September, 2017. The Finance Minister was briefed that active liaison is being maintained with, corporate employers to ensure maximum filing of income tax returns. In the next phase trade bodies, tax bars and Chambers of Commerce & Trade will be engaged to facilitate and ensure filing of maximum number of returns.
The Finance Minister appreciated FBR's efforts for revenue collection in July-August period of FY 2017-18 and said the spirit with which the whole FBR team had worked together is already showing good results. He emphasized on concerted efforts for broadening the tax base and said people must be provided proper facilitation to contribute their due share to national exchequer. He called upon officials of the FBR to put in their best to achieve the overall targets for the current fiscal year. The Minister added that Government aimed to achieve sustainable economic growth and FBR's role in this respect is very important.-PR