Islamabad: FBR officials have proposed federal government to review its Rs2810 billion revenue target and asked to decrease it to Rs 2700 billion for fiscal year 2014-15.
An official source told Customs Today that even Government has yet not replied in this regard but agreed to cut down the revenue target. Top officials from FBR made it clear to the government that in prevailing circumstances the proposed target seems to be impossible to achieve. FBR officials advised the government that it should review its target now instead of changing the plan in mid year. They argued that reviewing the target now will make work of field formation officers more easier and organized.
The given target was set to fulfil the promise with IMF of increasing 1% tax-to-GDP ratio every year. In this fiscal year, Rs 600 billion increase in revenue collection also shows a 1% increase in tax-to-GDP ratio. It is said that FBR Member Inland Revenue Shahid Asad is playing vital role to pursue the government in this regard.
