ISLAMABAD: Chairman FBR Ansar Javed has said that taxation measures in the budget 2013-14 would yield additional revenues of Rs 202 billion and the envisaged target of 2475 billion would be achieved.
Talking to reporters on the occasion of post budget press conference, he said the FBR would achieve its revised tax collection target of Rs 2007 billion in the outgoing fiscal year 2012-13 ending on June 30, 2013. The FBR will have to collect Rs 322 billion in the ongoing month (June 2013) in order to meet revised tax target of Rs 2007 billion in the outgoing financial year.
He said the FBR was authorised through Finance Bill 2013-14 for obtaining online access of account holders of the banks in order to broaden tax base by bringing the upto 0.5 million potential tax dodgers into the net. The information of account holders will be sought in certain specified formats from the banks where deposits of account holders stood at aggregating Rs one million; loans written off of exceeding Rs one million in a year and suspicious transactions report generated and submitted by it to the Financial Monitoring Unit under Anti Money Laundering act, he added.
However, Chairman FBR said the tax authorities were authorised to get such data in many parts of the world especially in OECD countries and proposed it in Finance Bill 2013 with the idea to broaden the tax base. Ansar said the FBR had developed its database to prepare profiles of 0.5 million potential non filers and this task would be accomplished till December 2013. Answering a query about NADRA’s demand to pay fee for utilizing its data for preparing tax profiles of potential tax dodgers, he said that there should be no fee charged by another government department for sharing its data with the FBR and Finance Minister had assured him for getting the required data without paying any fees.