ISLAMABAD-The tax collection across the country has been raised up to 16 percent for the first time in the history of Pakistan.
That was disclosed by Federal Minister for Finance Senator Ishaq Dar here in wake of federal Board of Revenue’s successful revenue collection target achievement during last fiscal year 2013-14.
Dar applauded the Chairman FBR Tariq Bajwa and his whole team who have worked hard to achieve the target for revenue collection during the last fiscal year 2013-14.
“It’s only due to the commitment, dedication and hard work of the whole team that only in one year there has been an increase of over 16 percent in tax collection which is unprecedented in the history of Pakistan,” Dar added.
Elaborating further the Finance Minister maintained that targets are always set on the higher end and efforts are made to reach closer to that target. The Finance Minister hoped that the FBR will devise a strategy to achieve the target of Rs.2810 billion set for the next fiscal year 2014-15.
The Minister directed the FBR Chairman to work for simplifying the procedures involved in filing returns and incentives should be given to the return filers as compared to the non filers.
He added that the tax payers should be facilitated by simplifying tax reporting so that people prefer to pay taxes rather than evading tax process and tax payers should be rewarded.
Ishaq Dar further observed that serious efforts will be made for the documentation of the economy.