Farakh Iqbal, Farakh Iqbal

The government requested to bring down revenue target


The Federal Board of sales (FBR) has asked the authorities to revise its annual tax series goal for (economic year) FY2018-19, a news supply mentioned.

The federal institution issued this request following a tax collection shortfall of PKR 356 billion at some stage in the primary 10 months of the contemporary economic 12 months. It has requested the government to fix the goal at PKR 4,050 billion rather than PKR 4,398 billion.

Read: New FBR chairman nominated, Official notification awaited

FBR officers have reportedly shared the info on tax series and sales shortfall with the visiting delegation of the global monetary Fund (IMF). At present, the tax collection growth rate remains – on average – at 3%.

Formerly, the government had projected a boom of 14.4% in sales collection while it fixed the target at PKR 4,398 billion for FY2018-19. As in keeping with reports, if it manages to convince the Finance division of a downward revision, the revenue board will see a discount of PKR 348 billion in its overall goal.

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