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Dar says FBR on track to achieve its set target

Dar says FBR on track to achieve its set target

ISLAMABAD: Federal Minister for Finance Ishaq Dar has reiterated his commitment to achieve FBR’s annual tax collection target of Rs2,475 billion saying, “In view of fiscal framework, it is imperative that Federal Board of Revenue (FBR) achieves its desired target of Rs2,475 billion, otherwise development spending will become victim in case of slippages on account of revenues”.

No further room has been left to cut down the non-development expenditures of the Prime Minister House, as well as all other ministries, he said.

“We have directed the FBR to gear up efforts for achieving the desired tax collection target and with the grace of God, FBR’s revenue collection has so far been on track”, he added. He said that he has also directed FBR to find ways and means for facilitating taxpayers.

The Finance Minister said that FBR has initiated the second round of sending notices in a bid to expand the tax base. “Broadening the tax base exercise will continue in the years to come,” he added.

After a long meeting held in FBR headquarters presided by Finance Minister Ishaq Dar, the chairman FBR said, “Under the law, we have dispatched tax notices to thousands of non-compliant defaulters under the second round of broadening the tax base exercise and after giving them appropriate timeframe, provisional assessment will be done against those who will fail to comply with our notices”.

He further said that after receiving the second notice to rich and influential tax defaulters and in the case of continuation of non-compliance, a provisional assessment will be done after 15 days. He also said that FBR had sent 32,000 notices in the first phase.