ISLAMABAD: Federal Board of Revenue (FBR) collected Rs1,269 billion taxes up to December 28 from the start of current fiscal year against the collections of Rs1,096 billion taxes in the same period of last fiscal, reflecting 16 percent growth.
Member Strategic Planning Reforms and Statistics (SPR&S) and FBR Spokesman Dr Muhammad Iqbal told APP Tuesday that FBR had performed well in tax collection with over 16 percent increase in taxes so far as compared to the previous year.
The FBR spokesman said the Final Tax Regime (FTR) is under consideration in coming fiscal budget 2015-16. He added that there is need to phasing out the FTR for documented the economy and bring all the sector in normal tax regime.
Dr Iqbal said no Saturatory Regulatory Orders (SROs) was issued in current fiscal year and no such measure was proposed to the high level committee for further approval in Economic Coordination Committee of the Cabinet (ECC).
He said that SROs issue was under discussion with all stake-holders including all chamber of commerce and the Ministry of Commerce and Textiles Industry. Despite the huge challenges FBR’s tax collection was on track, he added.
Dr Iqbal said that FBR was committed to broaden the tax net for strengthening the national economy and to enhance tax to GDP ratio in the country in line with the policy of the government.
FBR had collected an amount of 28 percent extra in the months of October, November and mid of December as compared to the same period of previous year, he said.
The performance of FBR, he said was very encouraging in the second quarter of current fiscal year and figures show 30 percent increase in collection of taxes, he added.
