ISLAMABAD: Regional Tax Office has achieved 80 percent budgetary targets of current financial year with 27 percent growth in tax revenue collection. The RTO has collected Rs71.6 billion till April 2018 against the assigned revenue target of Rs90 billion.
These views were expressed by Deputy Commissioner (Hqr) Regional Tax Office Inland Revenue FBR Furrukh Amir Sial during an exclusive interview with Customs Today.
Sial said that the strategy of different tax rates between filers and non-filers is successfully showing results and the number of filers is increasing day-by-day and there is 5 to 10 percent growth in filers. He also disclosed that Amnesty Scheme response is not encouraging and till May 2018 not a single tax return submitted in this RTO, perhaps people are not realizing the opportunity.
He stated that Federal Board of Revenue Chairman Tariq Mehmood Pasha believed on friendly ties with taxpayers rather than enforcement and he has directed all RTOs, LTUs, and CRTOs to avoid any unpleasant attitude with taxpayers and give them full respect if any dispute arises between authority and taxpayer, it should be solved with mutual consent.
He said, “We implemented FBR chairman’s directions and recovered Rs7 billion to Rs8 billion outstanding dues.”
He said that tax revenue will go down under the head of salary during next financial year, after the increase in limit of taxable income from Rs0.5 million to Rs1.2 million, as it will dent Regional Tax Office Rs2 billion to Rs3 billion in next financial year.
He said this year Capital Development Authority’s (CDA) tax revenue sharing rate is very low. Non-filers are major contributors in tax revenue growth as more than 50 percent revenue is coming from them.
He suggested to tax evaders to take advantage of amnesty scheme otherwise after 30th June Federal Board of Revenue is going to take stern action against them then it will be difficult to hide their assets and they would have to pay the penalties and some of them may face courts, therefore, they should take it seriously.
He said the duty on cement has been doubled and this will affect the tax revenue. “We are registering new filers but the number of taxpayers among them is very low. People should know that no country can move ahead without tax revenues, especially Pakistan is in phase of financial crunch so patriotic Pakistanis should come forward and pay their due share in the taxes.”
