ISLAMABAD: Federal Board of Revenue (FBR) is organising the National Tax Conference on July 24 (Friday) at the FBR House to review the performance of each LTU/RTO for the tax year ended June 2015.
The top revenue authority of the country has directed all the chief commissioners of Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to share their experiences and strategy adopted for revenue collection in 2014-15 at the conference for successfully meeting the assigned targets of 2015-16.
The chief commissioners will share their experiences pointing out both weak and strong areas. The revenue measures for the tax year 2015-16 shall also be deliberated upon for implementation with the start of the financial year, FBR added.
The tax authorities will discuss the budgetary measures introduced through Finance Act 2015. The revenue impact of each measure and strategy would be discussed in the conference. The FBR will also set monthly and quarterly revenue collection targets of each LTU and RTO.
The government has fixed Rs3103.7 billion revenue collection target for 2015-16 against the downward revised target of Rs2605 billion in 2014-15, reflecting a growth of around 19 percent.
Targets of each RTO and LTU would be projected keeping in view the annual target for 2014-15. Break-up of tax projections for 2015-16 revealed that the direct taxes target has been set at Rs1347.9 billion against revised target of Rs 1109 billion.
Sales tax projections have been estimated at Rs1250 billion for next fiscal year against downward revised target of Rs1082 billion in 2014-15. The estimates of Federal Excise Duty has been set at Rs206.4 billion in 2015-16 against slashed target of Rs159 billion and projections of customs duty has been estimated at Rs299.1 billion in 2015-16 against Rs159 billion in 2014-15.
