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FBR records Rs40b shortfall in October

FBR records Rs40b shortfall in October

ISLAMABAD: Federal Board of Revenue (FBR) recorded a shortfall of Rs40 billion against the assigned target of Rs300 billion for the month of October, 2018, it is learnt here.

Official sources told Customs Today that FBR had assigned Rs300 billion revenue target for October, 2018 to field formations, while the field formations have provisionally collected Rs260 billion till October 31 posting shortfall of around Rs40 billion. However, all field formations have highlighted to the FBR chairman in the last video link conference that the assigned target would hardly be achieved but the FBR chairman clarified that negative approach in the revenue collection will not be tolerated.

Sources further added that during the same month in previous year (2017-18), the board had collected Rs220 billion revenue; however, for current FY 2018-19 the board is facing hurdles to achieve the assigned target.

It is important to mention here that with the basic purpose to review the performance of Large Taxpayers Units and Regional Tax Offices and make a new strategy for the achievement of the revenue target of the current financial year, the FBR has conducted video link conference.

The FBR chairman directed all field formations in the conference to especially focus on the withholding tax and other tax due recovery. He directed the chief commissioners that they should focus on enforcement, audit and bringing new taxpayers in the tax net and maximum efforts would be directed towards collection of arrears.

Meanwhile, the board has introduced and forwarded the Special Performance Analysis Form to all Large Taxpayers Units (LTUs), 18 Regional Tax Offices (RTOs) and Corporate Regional Tax Offices (CRTO) across the country and directed the field formations to submit their monthly performance on the form and send it to the board and has clarified that the “performance allowance” and transfer and posting of the head of field formations will be evaluated solely on this performance analysis form.