July-April collection: RTO Multan facing shortfall of Rs 5 billion
MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office Multan has surpassed the revenue collection target for April, 2015 by collecting Rs 6.2 billion against the set target of Rs 5.76 billion.
The FBR had assigned Rs.5.76 billion as tax collection target to Regional Tax Office Multan for April, while the RTO Multan has surpassed the target by collecting the RS.6.2 billion in wake of taxes. It has collected Rs 260 million more than the set target.
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The RTO Multan collected Rs 2 billion as income tax, Rs 3 billion as sales tax and Rs 76 million in term of federal excise duty during said period.
While on the contrary, RTO Multan is facing shortfall of Rs 5 billion in the collections of the first 10 months as it generated Rs 52 billion tax against the set target of Rs 57 billion for the first 10 months (July-April) of the current fiscal year 2014-15.
The Regional Tax Office Multan has collected Rs 23 billion as income tax against the target of 24 billion and Rs 27 billion in wake of sales tax against the set target of Rs 32 billion with shortfall of Rs 5 billion, besides collecting Rs 1.13 billion as FED against target of Rs 610 million in first ten months.
It is important to mention here that RTO Multan is facing shortfall in term of sales tax and income tax, while it has surpassed the target of FED.
Talking to Customs Today, officials said that they were striving to surpass the target by the end of current fiscal year, adding that department was tightening noose around the tax evaders to recover the leviable amount.
They said strategies adopted by RTO Multan were effective as the deficit in tax collection was shrinking over the time, while it was stood at Rs 9 billion in February, 2015.
The RTO Multan collected Rs.60.37 billion during the last financial year 2013-14.
