MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office Multan has collected Rs 16.11 billion during the first quarter of fiscal year 2015-16.
Sources told Customs Today that the FBR had allotted the collection target of Rs 16.25 billion for the first quarter of the on-going financial year 2015-16. The revenue collection target of the first quarter includes income tax, sales tax and federal excise duty.
The target for the collection of income taxes was set at Rs 6.8 billion. The Regional Tax Office Multan collected income tax of almost Rs 7 billion against the set target of Rs 6.8 billion during the period of the first quarter of existing fiscal year. Almost 100 percent target of income tax has been attained by the Regional Tax Office in the first quarter of the fiscal year 2015-16.
The assigned target of sales tax collection for Regional Tax Office Multan from the FBR for the first quarter was Rs 8.80 billion during the current fiscal 2015-16. About Rs 8.98 billion amount of sales tax has been collected by the Regional Tax Office Multan from the potential tax payers. Almost 102 percent sales tax target has been achieved during the first quarter of the current fiscal year 2015-16.
The FBR has allotted the collection target of almost Rs 470 million of federal excise duties to Regional Tax Office Multan for the first quarter of the existing economic year 2015-16. The Regional Tax Office Multan collected almost Rs 130 million during the first quarter of the current fiscal year 2015-16. The Regional Tax Office Multan remains unsuccessful to achive the federal excise duties target during the first quarter of the fiscal year 2015-16.
Overall the Regional Tax Office Multan collected target effectively against the set target of Rs 16.11 billion against the set target of Rs 16.25 billion including income taxes, sales taxes and federal excise duty for the first quarter of the present fiscal year 2015-16.
The Federal Board of Revenue Regional Tax Office Multan missed the target due to official holidays of Eidul Azha because the collection process was slow down near the Eid days. But overall the RTO Multan managed to collect 99 % of the set target of the first quarter of the fiscal year 2015-16 under the energetic leadership of Commissioner RTO Hafiz Mohammad Jamil Owaisi.
