MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office (RTO) Multan suffered revenue shortfall of Rs.500 million during the month of May.
According to details, Federal Board of Revenue assigned Rs.8 billion revenue collection target to Regional Tax Office Multan for the month of March 2017-18. The Regional Tax Office was able to collect Rs.7.50 billion under the head of income tax , sales tax and federal excise duty during the month of May.
The Regional Tax Office collected Rs.3.60 billion income tax collection after end of May 2017-18. The Federal Board of Revenue has made collection of sales tax of Rs3.59 billion during May .
Tax authorities collected Rs.553.80 million under the head of federal excise duty Rs.700 million during the month of May for the on-going economic year 2017-18.
The revenue collection made by the Regional Tax Office is almost shortfall of Rs.500 million from assigned revenue collection target of May after the end of month. Tax authorities of Multan accomplished the income tax revenue by collecting Rs.4.506 billion for the month of March.
Tax Authorities of Regional Tax Office Multan has taken strict action against defaulters for the recovery of their outstanding taxes to meet the revenue task for the month of May but they failed to accomplish the assigned task given by Federal Board of Revenue.
