Committee recommends incentives for FBR officials
ISLAMABAD: The Federal Board of Revenue (FBR) received hats off applause for meeting revenue target as well as showing immense growth in revenue collection in the fiscal year 2015-16 from the Senate Standing Committee on Finance and Revenue here. The FBR was further applauded for fixing such a tough and hard revenue collection target for the fiscal year 2016-17.
Moreover, the impressive and rational briefing by the Chairman FBR Nisar Mohammad Khan was widely appreciated from the whole committee and the committee recommended more incentives for the FBR officials for making untiring efforts to achieve the target.
In this regard, the committee asked the FBR chairman to come up proposals and recommendations to further incentivize the FBR officials against their un-matchable services for the nation.
The Senate Standing Committee on Finance and Revenue met here with Chairman Salim Mandviwala in the chair to discuss a number of issues including a briefing by the Chairman FBR about total tax collection in fiscal year 2015-16 as well as revenue collection target for the current fiscal year 2016-17.
FBR Chairman gave an impressive briefing to the committee along with statistics and figures that FBR collected Rs 3112 billion revenue in the previous fiscal year while revenue target for the current fiscal year was set Rs 3621 billion.
“In the previous fiscal year there was around 20.2% growth in revenue collection as compared to the fiscal year 2014-15 and a growth of over 16% is expected in revenue collection for current fiscal year as compared to previous fiscal year 2015-16” he maintained.
Nisar Muhammad Khan observed that over the years, ratio and reliance on the indirect taxes had reduced and share of direct taxes in the total revenue collection had increased to over 43% in the previous fiscal year 2015-16 as compared to 38% in the fiscal year 2014-15.
