ISLAMABAD - The Federal Board of Revenue (FBR) has collected Rs 1107 billion revenue during the first eight months (July-February) of the ongoing fiscal year 2011-2012 which is 25 percent higher than the collection of last year 2010-2011.
Meanwhile, the FBR has collected Rs 132 billion in the month of February. The FBR has now to collect Rs 845 billion in remaining four months (March-June) at monthly average of Rs 211.25 billion in order to reach the annual revenue collection target of Rs 1952 billion. The International Monetary Fund (IMF) and State Bank of Pakistan (SBP) in their recent reports had projected that FBR could not achieve the tax collection target Rs 1952 billion without taking additional taxation measure in the remaining period of the current fiscal year. However, high officials of the tax department are of the view that FBR could achieve the said target without taking additional measures.
“The FBR is working to expand the tax base of the country by bringing non-taxpayers into the tax net. The FBR has already issued notices to some 4,00,000 non-taxpayers and it would issue notices to further non-taxpayers in the remaining months of the current financial year, which will help in collecting more taxes”, said an official of the FBR while talking to The Nation on Wednesday. It might be recalled here that government had traced 7,00,000 non-taxpayers, who are enjoying luxury life but not paying taxes.