ISLAMABAD: Finance Minister Ishaq Dar discussed the third and final phasing out plan for withdrawal of concessionary regime with Federal Board of Revenue Chairman Nisar Muhammad Khan.
The minister discussed this matter while chairing a meeting with FBR chairman and his team here on Saturday.
FBR chairman briefed the meeting about the third and final phasing out plan for withdrawal of concessionary regime under the head of Income Tax. Earlier last month a meeting held at FBR had discussed the phasing out plan in respect of sales tax, federal excise duty and customs.
The meeting was informed that in fiscal year 2014-15 Rs 105 billion worth of SROs and exemptions were withdrawn while in 2015-16 this amount stood at Rs. 120 billion. The third and final phase would be implemented in the FY 2016-17.Finance minister appreciated FBR’s efforts for roll back of concessionary SROs and exemptions as envisaged by the present Government in 2013.
The minister while appreciating the steps taken for revenue generation in the first nine months called upon FBR officials to keep up the good efforts for even better results during the last quarter to meet the target set for FY 2015-16.
