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Tag Archives: tax collection

Punjab excise secretary warns three directors on poor tax collection


LAHORE: Secretary Excise and Taxation Department Punjab Ali Tahir have warned three Directors on poor performance and low recoveries. Ali Tahir has presaged three Directors to improve their performance within one month or get ready for departmental action. During Directors conference at Director General Office Shadman Lahore Ali Tahir strictly warned Director Motor Branch Lahore Suhail Arshad to improve Tax ... Read More »

FBR collects Rs87 billion in first 15 days of 2015


ISLAMABAD: Federal Board of Revenue has collected 87 Billion Rupees in the first 15 days of the year which is a record increase. The collection has increased by 13 percent from last year. FBR Chairman Tariq Bajwa said that FBR is working as a team and putting efforts to detect tax evasion at all levels. He further said that if ... Read More »

Smuggling, tax evasion biggest hurdles in tax collection: Senator Alan


MANILA: Smuggling and tax evasions were the biggest hurdles in the collection and completion of tax targets which badly effect the economy of the country, said Senator Alan Peter Cayetano to focus on tax collection and the Bureau of Customs (BOC). Cayetano said the bigger corruption problem isn’t the ghost employees or ghost projects, through which about 20% of the ... Read More »

FBR orders action against 14 officials for not collecting taxes


  MULTAN: The Federal Board of Revenue (FBR) has initiated a disciplinary action against 14 regional tax officers and employees for not taxing oil manufacturers on cottonseed cake. The FBR has issued directions to higher authorities in this regard. The officials include regional tax officers and deputy commissioner from the regional tax office Multan. The officials did not apply taxes implied by ... Read More »

FBR’s Rs2,266b tax collection: Tax-to-GDP ratio up by 8.9pc


ISLAMABAD: Federal Board of Revenue’s Rs2,266 billion tax collection during the fiscal year 2013 has raised the country’s tax-to-GDP ratio by 8.9 per cent. As per the FBR Biannual Review, the Board collected Rs2,266 billion during the FY13 as compared to 2012’s Rs1,946 billion, showing growth of 16pc and increasing Tax GDP ratio to 8.9pc. However, FBR has set Rs2,810 ... Read More »

FBR unlikely to meet Rs2.81tr revenue collection target


ISLAMABAD: Federal Board of Revenue unlikely to meet the Rs2.81 trillion target as the growth of tax collection during the current fiscal year remained 15pc, which is below the required growth of 24pc. Sources said that the government has to take extra revenue generation measures after huge shortfall of first quarter and owing to effects of floods on economic activities ... Read More »

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 ... Read More »

FBR chief Bajwa briefs ADB president about Pakistan’s tax system


ISLAMABAD: FBR Chairman Tariq Bajwa called on Asian Development Bank (ADB) President Takehiko Nakao and a delegation of American Business Council and briefed them about tax collection mechanism and performance of FBR in this regard. ADB President lauded the FBR functioning along with stressing upon widening the tax net. Similarly, FBR chairman briefed the American Council delegation about the tax ... Read More »

FBR collects Rs 1b more revenue in August


ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the monthly revenue collection target of Rs 180 billion for August 2014 as it collected over Rs 181 billion during the month. Official data obtained by Customs Today showed that the FBR has provisionally collected over Rs 181 billion during the first 29 days of August 2014 against assigned monthly revenue ... Read More »

FBR collects Rs 134b amid Imran, Qadri’s sit-ins

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs 134 billion revenue until August 26 against Rs 110 billion collected during the corresponding period of the last year, depicting a 20 percent increase in the tax collection, said Shahid Hussain Asad, the member of the Inland-Revenue and spokesman for the Federal Board of Revenue (FBR). “The sit-ins by the Pakistan ... Read More »

Finance Ministry all set for amending FERA Act, repealing EPFO


ISLAMABAD: The Ministry of Finance has made full preparations to introduce Bill to amend the Foreign Exchange Regulation Act, 1947. Similarly, Ministry is also all set to introduce another bill to repeal the Equity Participation Fund Ordinance, 1970. Both the bills had been very effective in the past and had been introduced with the purpose of streamlining economic sector in ... Read More »

Sindh E&T exceeds tax collection target

Sindh E &T

KARACHI: Sindh Minister for Excise and Taxation Mukesh Kumar Chawla has said that the Excise Department has exceeded the targets of tax collection of Rs32 billion for the year of 2013-14. Chawla said the department had collected Rs32407.523 million against the target of Rs32011.500 fixed by the provincial government for year 2013-14, which is 101pc of the targets in all ... Read More »