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Tax collection target likely be revised due to floods

Tax collection target likely be revised due to floods

ISLAMABAD: Federal Board of Revenue (FBR) is planning to review the tax collection target of Rs2.81 trillion set for the current financial year 2014-15 owing to devastating floods in the country.

Sources said that FBR has taken the decision after having nod from the Finance Ministry.

According to FBR spokesperson Shahid Hussain Asad, FBR Tax Department is no track to attain the annual target of Rs2.81 trillion, adding that even the department has surpassed the targets during July and August.

It is pertinent to mention here that FBR has collected Rs139 billion during 22 days of this current month of September as compare to Rs110 billion, which were collected during the same month of last fiscal year. Meanwhile, Rs319 billion had been collected during July and August of the current fiscal year 2014-15, which is 11 percent of the overall revenue collection target.