LAHORE: The Federal Board of Revenue (FBR) Regional Tax office (RTO) II would collect almost Rs 5.6 billion taxes during December of current fiscal year.
As per details, the RTO-II has collected almost Rs 2.25 billion sales tax, Rs 1.75 billion income tax and Rs 14 million federal excise duty until December 24. As a whole, RTO-II has collected almost Rs 4.022 billion.
On the other hand, the FBR has given Rs 6.104 billion target to RTO-II. It was expected that RTO-II could collect Rs 5.616 billion, while all officials of the department were trying to meet the target, sources said. They added that sales tax would be a major source of revenue to meet the set target.
He also informed that authorities have directed commissioner, deputy commissioner and special assistants to expedite the work regarding the collections of the taxes.
December is the last month of the second quarter of the current fiscal year and it is considered important to cover the shortfall of revenue collections. FBR has set Rs 16.5 billion target for second quarter for the RTO-II, while it has collected almost 14 billion until December 24.
