ISLAMABAD: Federal Board of Revenue has strongly denied reports appearing in a section of the press that non-tax revenue has been included in the taxes and duties collected by FBR to overstate the figure of tax collection.
The FBR through its sustained and untiring efforts was able to achieve and surpass the revenue targets for the just concluded financial year and the above referred report is an attempt to undermine the efforts of the FBR and the Government resulting in a more than 20% increase in collection over that recorded for the preceding year.
As per the provisional collection figures, FBR has made a net collection of Rs 3112 billion for the year ended 30th June 2016 as against Rs 2589 billion collected in the year ending on 30th June 2015 thereby registering a 20% increase over the last year.
In order to dispel the misconception regarding inclusion of non-tax revenue FBR wants to inform that in the year ending 30th June 2016, it collected Rs 1217 billion as Income Tax showing a growth of 18% over the last year, the collection of Sales Tax in this period was Rs 1357 billion with a growth of 19%, Rs 401 billion were collected under the head of Customs duty thereby giving an increase of over 30% as compared with the last year and Federal Excise Duty to the tune of Rs 192 was collected thus reflecting an increase of 11% over the collection for the last year.
After deducting the cash refund of Rs 54 billion disbursed during the period the net collection of Rs 3112 billion against the assigned target of Rs 31104 billion was recorded.
The above figures clearly show that FBR achieved its assigned revenue targets through its own efforts and from streamlining the collection of taxes and duties that fall in the purview of FBR and no non-tax revenues were accounted for by the FBR to inflate its revenue figures.
FBR also wants to highlight that the originally assigned targets have been achieved without any downward revision which is an unprecedented accomplishment and speaks of the success of the economic policies being followed by the present government.
