ISLAMABAD: Federal Board of Revenue (FBR) Spokesman Shahid Hussain Asad has said that massive cut in petroleum prices has also decreased revenue by Rs400 billion and the government will have to face further Rs68 billion shortfall in annual revenue collection target, if GST on petroleum products is not increased.
While talking to Customs Today, Shahid Hussain, who is also Member Inland Revenue, said that the Finance Minister would address the GST issue and it is before time to discuss the increase in GST on petrol.
Shaid said that tax culture has yet not established in Pakistan and situation of tax collection is alarming in the country, adding that the government should keep revenue target in view, while deciding about increase in GST. He said that despite public-friendly policies of FBR, people are reluctant to pay taxes.
The FBR spokesman urged the business community to strengthen the economy by paying taxes. He said that though FBR will continue with its public-friendly policies, yet tax evaders cannot be spared.
He further said that pace of tax recovery and hearing of cases in this regard have been increased. Authorisation of Special Customs Courts will ensure speedy decisions and stoppage of tax evasion, he said, adding that process of registering FIRs against tax evaders has started and cases have been sent to taxation courts. Notices are being served to big retailers, he added.
