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Asad shows contentment on tax collection so far

ISLAMABAD: FBR Official Spokesperson Shahid Hussain Asad said that there should be 5 per cent annual economic growth where there is 10 per cent inflation. Keeping this in view the tax collection is remarkable.

While talking to Customs Today, he informed that there is 34% growth in collection of income tax; 17% growth in collection of sales tax; 4% growth in collection of federal excise duty; and 3% growth in collection of customs duty. He said, “Overall we have 22 per cent growth in tax collection. Although FBR has set high targets but these are achievable which is obvious by looking at the gross collection in the first half.”

On the other hand, it has been noticed that International Monetary Fund has given a lower target than the target set by FBR itself, he said adding, “So this 22% growth seems remarkable target while there is another half remaining. FBR is focusing on that thoroughly to show a positive performance.”