Multan RTO collects Rs 59.5 million under VTCS‏

MULTAN: The Regional Tax Office of Federal Board of Revenue (FBR) has collected 695 tax returns under Voluntary Tax Compliance Scheme (VTCS).

The Regional Tax Office collected four new tax returns under VTCS here on Tuesday. Four new taxpayers have deposited Rs 152,000 under the scheme. After the launching of the tax amnesty scheme, RTO Multan has collected Rs 59.5 million from February 1 to April 20.

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Non-filers are not ready to file their tax returns under the newly launched voluntary tax scheme due to its few features. The Regional Tax Office was expecting more than 10,000 tax returns under this voluntary tax compliance scheme but they received only 695 tax returns which show slow-moving of the tax collection revenue through this scheme.

The Federal Board of Revenue has not announced any incentive for the filer in the newly launched voluntary scheme which is also consider as one of the major flaws to attract the non-filers.