ISLAMABAD (APP) - The Federal Board of Revenue (FBR) would review its tax collection targets once the reformed General Sales Tax (GST) is implemented probably in October this year, a top FBR official said here on Thursday. We will have to review the tax targets once the reformed GST is put in place, FBR Chairman Sohail Ahmad told APP in an interview. He was of the view that target of revenue collection of Rs.1.667 trillion during the current financial year was tough however the board would utilize all its potentials to achieve this. Ahmad said that despite challenges the board collected taxes of Rs. 1.325 trillion during the fiscal year 2009-10 against the target of Rs.1.38 trillion, missing the target just by 4pc. He said that the tax collection of the previous year stood at 96pc of the set target and described it an achievement in a situation when the FBR had to exempt taxes and face losses of billions of rupees. He said that cut of Rs.200 billion in Public Sector Development Programme (PSDP) 2009-10, resulted in losses of Rs.12-15 billion for FBR similarly exemption of Sales Tax on sugar resulted in loss of Rs.25b for the board. He said that Capital Value Added Tax was evaluated at Rs.15b but just Rs.7b were collected. He said that these factors were not in place when the tax targets were fixed last year and had the FBR collected these taxes it would have achieved the collection target. But still the 96pc collection of taxes was a big achievement in the present situation, he remarked. To a question about Value Added Tax (VAT) the FBR Chairman said that the finance ministry was already discussion the issue with provinces as tax on services was the provincial subject, adding that Sindh was opposing it while negotiations with other provinces was going on. However, an official in the board told APP that the VAT mode of taxation would be replaced with the reformed GST and it is likely to be implemented from October this year. To a question about the collection through GST, he said that it would depend upon the rates and the treatment extended to various sectors of economy provided in the GST law. He admitted that VAT was one of the IMF conditionalities under the Standby Arrangement Programme. He said that several measures have been taken to reform the board which included introduction of Universal Assessment Scheme, Automation as e-filing of income tax and sales tax returns, establishment of various tax facilitation centers to guide taxpayers. To a question, he said that there are possibilities of leakages in the FBR tax collection system, however categorically denied that there were leakages of as high as Rs.500 billion. The leakages figure or Rs.500 billion has no basis nor could it be quantified, he remarked. He said that FBR in its field formation has been making all-out efforts to plug the leakages and effectively check possibilities of evasion of tax collection adding that the board has put in place an effective system of checks as there is full Directorate General of Intelligence and Investigation to deal with these issues. He said that the self assessment has also been introduced to overcome the leakages. To another question, he said that refunds are being paid expeditiously as soon as they are due after observing necessary procedural formalities.