MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office (RTO) Multan has surpassed the set target of Rs 7 million for May, 2015 by collecting Rs 7.6 billion with surplus of Rs 600 million approximately.
The RTO Multan has been able to collect Rs 2.65 billion as income tax, Rs 4.80 billion sales tax and Rs 15.7 million federal excise duty during the said period.
On the contrary, RTO Multan is facing a shortfall of almost Rs 8 billion in the collections of the first 11 months as it could generate only Rs 58.73 billion tax against the set target of Rs 67 billion during the first 11 months (July-May) of the current fiscal year 2014-15.
According to available statistics of first 11 months, it has collected Rs 25.65 billion as income tax against the target of Rs 27.51 billion and Rs 31.80 billion in wake of sales tax against Rs 38.83 billion with shortfall of Rs 7.03 billion, besides RTO Multan surpassed the target of federal excise duty collection by 100 percent as it collected Rs 1.28 billion against the set target of Rs 610 million in the said period.
The RTO Multan has achieved the 93 percent of income tax and 81 percent of sales tax’ targets for the running fiscal year 2014-15 and overall it needs to collect 13 percent in remaining days of outgoing year.
Officials said that RTO Multan was making efforts to achieve the 100 percent of set target by the end of this year, adding that this region would remain successful to collect more than Rs 65 billion which would be almost Rs 5 billion more than the last year’s collection.
