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Multan RTO given Rs17.77b tax recovery target in Q1

Multan RTO given Rs17.77b tax recovery target in Q1

MULTAN: Federal Board of Revenue (FBR) has decided to give quarterly tax recovery targets to large taxpayers units and regional tax offices (RTOs) instead of the previous practice of monthly targets and assigned Multan RTO to recover over Rs 17.77 billion in first quarter (July-Sep) of 2017-18.

According to official sources, FBR used to seek monthly reports regarding tax recovery but now the tax officials would send recovery reports after completion of a quarter of the fiscal year. The RTO Multan was given the target of Rs 4.52 billion for July 2017 which included Rs 2.07 billion income tax, Rs 2.457 billion sales tax and Rs 35 million federal excise duty (FED).

Multan RTO would recover Rs 5.48 billion in Aug 2017 including Rs 3.194 billion income tax, Rs 2.258 billion sales tax and Rs 33 million FED. And in Sep 2017, RTO Multan has been asked to recover Rs 7.771 billion including Rs 5.023 billion income tax, Rs 2.73 billion sales tax and Rs 45 million FED.