ISLAMABAD - A massive reshuffle in Federal Board of Revenue is likely on the card in next few days after the new chairman Ali Arshad Hakeem took the charge of his office, sources said on Thursday.
Apart from other challenges, the biggest challenge for the new chairman FBR is to achieve the revenue collection target of Rs 2,381 billion during the current fiscal year 2012-13, as the incumbent government failed to achieve tax target even once in last four years of its tenure.
Sources said that FBR is facing an uphill revenue collection target of Rs 2,381 billion during the ongoing financial year 2012-13, therefore new chairman is most likely to appoint top tax officers of his choice in order to make it sure to reach the target. Sources were of the view that serious question mark is already put on the revenue collection target of Rs 2,381 for the ongoing fiscal year after the government failure to achieve the target by Rs 37 billion during last financial year 2011-12.
It might be mentioned here that government has set the revenue collection target of Rs 2,381 billion for the current fiscal year on the basis of Rs 1,952 billion of the last financial year. However government missed the target by Rs 37 billion, therefore, it is expected that government might revise the target. Federal Board of Revenue (FBR)’s collection is likely to reach at Rs 1,915 billion including Rs24 billion collected by Sindh Revenue Board (SRB) during the previous fiscal year 2011-12 leaving revenue shortfall at around Rs 37 billion, as figures would finalise in next few days.