ISLAMABAD: The Federal Board of Revenue (FBR) showed dissatisfaction over revenue collection of Financial Year 2018-19, it is learnt here.
According to sources, the board has collected Rs165 billion within 24 days of the first month of the new Financial Year 2018-19 which is as low as Rs35 billion from the same period of previous year 2017-18. The board had collected revenue of Rs200 billion for the same time period of previous year with revenue growth of 26.5%.
Sources added that it is the first month of newly appointed chairperson of Federal Board of Revenue Rukhsana Yasmeen and she is giving very importance to the tax revenue collection however, the results are not satisfied for these 24 days of the first month of new Fiscal Year 2018-19.
Sources added that the revenue collection is also important for the new chairperson as well as for the new government as the new government will expect more revenue collection to handle the bad economic situation.
It is also necessary to mention here that Federal Board of Revenue (FBR) has called written explanation from the chief commissioners who failed to achieve the revenue target set for the financial year 2017-18.
The board has written letters providing comparison of achieved revenue against the assigned target and budgetary targets to those chief commissioners of Regional Tax Offices who were failed to get the revenue target while the board also sought from chief commissioners the reasons behind the low progress and not achieving the target for FY 2017-18.
