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FBR to adopt new strategy to achieve Rs4963b collection target

FBR to adopt new strategy to achieve Rs4963b collection target

ISLAMABAD: Federal Board of Revenue (FBR) has decided to take new enforcement and administrative measures to achieve revenue collection target of Rs4,963 billion assigned for current fiscal year.

The federal government in the latest budget assigned FBR to collect Rs4,963 billion during 2020/2021, which is 25 percent higher than the collection of Rs3,957 billion collected during 2019/2020.

In order to achieve the revenue collection target of current fiscal year the FBR chairman directed chief commissioners and chief collectors to submit their proposals and suggestions for taking new administrative and enforcement measures.

The FBR sought the proposals for increasing revenues and plugging loopholes.

All chief commissioners and chief collectors have been asked to furnish their proposals by July 15, 2020.

It is worth mentioning that the FBR was assigned Rs5,550 billion revenue collection target during fiscal year 2019/2020 however due to slow economic activities early in the fiscal year and adverse impact on economy due to coronavirus the revenue collection significantly declined.

Later considering the situation the FBR was assigned the reduced collection target of Rs3,907 billion, which was surpassed by more than Rs50 billion.

Despite the achievement of revenue collection target the FBR chairperson Ms. Nausheen Javaid Amjad was removed from the post and Muhammad Javaid Ghani was assigned additional charge of the post of FBR chairman.