ISLAMABAD - Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Shaikh on Friday hoped that FBR would achieve the revenue collection target of Rs 1,952b during the ongoing financial year 2011-12.
He said this while chairing the seventh meeting of the Tax Reforms Core Group (TRCG). The meeting discussed the progress due to reorganisation of FBR, finalisation of administrative measures agreed with World Bank in April 2011, Centralised Audit, Revenue collection of FBR as well as expanding the outreach programme. The meeting included an update on redrafting the treatment of five zero-rated export sectors, Tax incentivisation scheme as well as proposals of stamps on cigarette packs to help identify/ smuggled/ non-excise paid cigarette packs and enforcement of CGT.
The Finance Minister reviewed the revenue performance of FBR and desired that a follow-up meeting of the TRCG be held after two weeks to have a complete analysis of the taxpayers’ data and to discuss strategy to pursue the non-taxpayers.
Progress of broadening of tax base was discussed along with review of the progress on the 295,000 notices issued to non-filers. The Minister also directed the Member (IR) to ensure that notices to the remaining 300,000 non-tax filers be issued on priority
Member (TRCG)  Muhammad Ali, would also give a presentation on Capital Gains Tax (CGT) in the follow up meeting along with relevant data and strategy for enforcement of CGT based on meetings with Member (IR).
The Policy Wing of FBR was asked to give a break-up of revenue based analysis of the amount of revenue generated due to exclusive efforts of FBR, and those due to the policy decisions and due to exchange rate difference.
The expected revenue collection during the period January to June 2012 was also reviewed. The Minister for Finance desired that in the next meeting, the preliminary budget proposals and efficiency enhancement measures would also be taken up for discussion.
Earlier, Member IR Shahid Hussain Asad, Member (Customs) Mumtaz Haider Rizvi, DG (SP&R) Dr Amna Khalifa gave presentations on performance and revenue targets of FBR while Member (FATE) Ms Riffat Shaheen Qazi gave a presentation on the Outreach and Awareness programmes with the way forward strategy for expanding the Outreach programmes. Proposals were also put forward by members of TRCG on various policy issues.
The meeting was attended by Chairman FBR Salman Siddique, Deputy Chairman Planning Commission Nadeem ul Haq, Members (TRCG) Abdullah Yusuf, Habib Fakhruddin, Arshad Zuberi, Bashir Ali Mohammad, Ali Jameel, Muhammad Arshad Chaudhry, Ashfaq Tola, Chairman SECP Muhammad Ali, along with the core team members of FBR, Mumtaz Haider Rizvi, Member (Customs), Hafiz Muhammad Anees, Member (Taxpayers Audit), Ms Riffat Shaheen Qazi, Member (FATE), Shahid Hussain Asad, Member (IR), Sardar Amimullah Khan, Member (Enf. & Acctt), Imtiaz Ahmad Khan, GM PRAL, Dr Amna Khalifa DG (SP&R) and Dr Khaqan Hassan Najeeb DG (ERU), Finance Division.