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Zimbabwe tax collection remains 5% above target at $897 million

HARARE: Zimbabwe’s tax collections were five percent above target at $897 million during the first quarter of this year but revenue from companies and mining royalties fell, the head of the national tax agency said on Sunday. Zimbabwe finances its entire budget from taxes because lenders like the International Monetary Fund (IMF) and World Bank have said they will only ... Read More »

GDP declines to 508%: Philippines unable to achieve tax target of P1.456tr  

MANILA: The Bureau of Internal Revenue’s (BIR) failed to get P1.456-trillion goal for the year, which was based on a 6.5-7.5% economic growth assumption that is now probably out of reach. But the Gross domestic product grew just 5.8% in the nine months to September. The BIR exceeded its monthly targets only twice this year: in September when it collected ... Read More »

FBR set to achieve Rs 750m target in Aug from various Punjab cities

SIALKOT: The Federal Board of Revenue (FBR) has set a tax recovery target of Rs 750 million for the Regional Income Tax Directorate Gujranwala for August, 2014. A senior FBR official told the Customs Today that Regional Income Tax Directorate Gujranwala have to collect Rs 400 million income tax and Rs 350 million sales tax to achieve the target. The ... Read More »

An uphill target

In the wake of fixation of highly challenging tax collection target of Rs 2810 billion in fiscal year 2014-15, the FBR has been assigned to collect Rs 1180 billion in shape of Direct Taxes and Rs 1630 billion as Indirect Taxes in order to touch the desired collection figure. Out of indirect taxes of Rs 1630 billion, the FBR has ... Read More »

FBR to collect Rs530b in two months

LAHORE: Federal Board of Revenue’s Member Inland Revenue Service and Official Spokesman Shahid Hussain Asad had said that FBR has collected tax to the tune of Rs 1,745 billion by April 30, as compared to Rs 1,505 billion in the previous year in the same duration as that of first ten months. He said that 530 billion rupees will have ... Read More »

Time is running out

After passing first seven and a half month, the FBR has been left with no other option but to take corrective measures without wasting any time for making last ditch efforts for achieving highly challenging tax collection target of Rs 2475 billion on June 30, 2014. Chairman FBR Tariq Bajwa has jolted the bureaucracy of tax collection machinery in recent ... Read More »