MULTAN: Federal Board of Revenue Chairman Dr Muhammad Irshad has disclosed the number of tax filers had jumped to 1.4 million from 0.7 million while tax rate was being reduced 1% annually since this government came into power.
Dr Muhammad Irshad said that refund claims up to Rs 1 million would be paid till July 15, 2017 and the rest till August 14.
Addressing a gathering of industrialists at Multan Chamber of Commerce and Industry (MCCI), Dr Irshad said the payments made against refund claims were higher this year than the previous year, however, higher number of unpaid claims dwarfed the payments.
Moreover, incentives announced under different packages for farmers and ordinary people also reduced tax revenue by around Rs 120-130 billion. Citing example of subsidy on fertilizers, he said that it was costing around Rs 34-35 billion. He, however, added that initiatives for agriculture sector paid dividends as contribution of agriculture in GDP had increased.
He said that refund payment would go directly to the bank accounts of claimants and no cheque would be handed over to the industrialist or traders. Dr. Irshad advised the industrialists and traders to activate their ebank accounts to receive the refund claims.
The FBR chairman said that the budget 2017-18 was focused on achieving objectives including searching new tax payers, to attract those still out of tax net by facilitating existing tax payers, reduce and ultimately eliminate waivers being enjoyed by some sectors. He urged industrialists and traders to avoid misusing the tax relief or amnesty schemes stating that revenue generation was imperative to run governments.
MCCI president Khawaja Jalaluddin Rumi said on the occasion that government should initiate programmes to create awareness among people on importance of tax.
DG Khan Chamber of commerce and Industry (DGKCCI) President Khawaja Ilyas, chairman APBUMA Khawaja Younis, chairman all Pakistan Oil Mills Association Khawaja Faazil, Main Iqbal Hassan, Khawaja Yousuf, Mian Tanweer A. Sheikh, Khawaja Anis, Chief Commissioner Inland Revenue Saleem Raza Asif, Collector Masud Imran and others were present.
