ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Mehmood Pasha has convened a meeting of the directors general of the Inland Revenue on January 2, 2018 to evaluate their performance with special reference to the revenue collections in the first half of the current fiscal year (July-December).
According to sources, the government has incurred loss worth billions of rupees after the Lahore High Court (LHC) barred the Inland Revenue Department from collecting sales tax. Sources added the issue of sales tax collection would dominate the meeting of the directors general.
Sources told Customs Today that seven DGs from the Directorates of Inland Revenue; Islamabad, Karachi, Lahore, Faisalabad, Sukkur, Multan and Peshawar, will brief the meeting about their performance in the first half of the year.
In this regard, the source said that DGs would also share their experiences and future plans of action to meet the revenue collection target for the current fiscal year.
The sources said that Directorate General Inland Revenue was contesting a lot of legal and constitutional issues for its survival because of hard duty of implementation of almost four laws related to tax; income tax, sales tax and federal excise duty (FED).
“These laws are related to domestic taxes, comprising income tax, sales tax and federal excise duty, which constitute about 90% of the revenue collection. These taxes are not only similar in essence, but also are interdependent in practice. The time tested international tenor vindicates the same” the sources elaborate.
