FAISALABAD: The Regional Tax Office ( RTO ) of the Federal Board of Revenue ( FBR ) has collected Rs 2,082.7 million during July against the set target of Rs 1,542.700 million. The target is achieved 135 percent more as compared to the same month of last fiscal year 2015.
Sources told Customs Today, that the RTO Faisalabad collected Rs 964 million under the head of income tax against the set target of Rs1447.200 million. Sources said that Rs 1084.966 million were collected as sales tax against the assigned target of Rs 71.900 million. It is important to mention here that the RTO collected Rs 33.281 million under the head of federal excise duty (FED) against the target of Rs 23.600 million during the said period.
Chief Commissioner Inland Revenue (IR), Faisalabad Shad Muhammad said that the yarn market of Faisalabad is considered the largest market of Asia where billions of rupees sales tax is evaded by using fake invoices.
The RTO has launched various campaigns against fake invoice business. He said there are many small and medium industrial units in Faisalabad which are required to be brought under the tax net. The RTO officials of Faisalabad are working hard and paying keen interest in collecting revenue. They are ready all the time for prompt action and to done well to the best of department interest.
