MULTAN: The Federal Board of Revenue (FBR), Regional Tax Office (RTO) is facing revenue shortfall due to completion of three mega projects in the jurisdiction.
According to details, three major mega projects were running in the Regional Tax Office jurisdiction from last two economic years. These mega projects were contributing handsome amount of tax revenue for Regional Tax Office Multan. These mega projects were spending billions of rupees for their establishment and Regional Tax Office Multan collecting taxes under different heads from these projects.
Metro Bus Multan, Coal Power Plant Sahiwal and Kaachi Canal Projects are completed and soon after their completion tax collection of RTO witnesses a marginable decline. During establishment of these three mega projects, RTO Multan was collecting taxes from them under various heads. The drop in tax collection also creating certain issues for RTO in accomplishment of their assigned annual revenue targets due to their completion.
It is also important to mention that Regional Tax Office Multan is already facing shortfall in tax collection. The Federal Board of Revenue has assigned Rs.8 billion tax collection in the month of April and they were able to fetch Rs6.39 billion during April. The Regional Tax Office Multan has also informed about decline in the tax collection in the last few months due to decrease in the sales tax on the High Speed Diesel and others.
The Regional Tax Office Multan is tapping new sources for the collection of taxes in Jurisdiction and it will also increase the income of the RTO Multan.
