Islamabad: The Federal Board of Revenue (FBR) has generated revenue worth PKR 1.64 billion from 6,451 high net worth cases identified through monetary transactions undertaken during the last one year, according to a news source.
The government recently released the report detailing the one-year performance of the FBR in which it mentioned that specialised were created within the Regional Tax Offices (RTOs) to fast track these cases’ proceedings, which resulted in the enforcement of 2,989 returns.
The demand created is PKR 4,915 million and the taxes recovered amounted to PKR 1.64 billion. Moreover, PKR 189 million was paid by the taxpayers who availed amnesty on the grounds of action taken by specialised units.
The report also said that the taxes collected by the IR-Operations Wing for July 2019 stood at PKR 234 billion, which makes 99.2% of the target amount of the PKR 236 billion. The IR-Domestic Taxes collection showed a growth of 60% as compared to the last year’s figures. The same growth trend is visible in sales tax collection, which stands at PKR 123.4 billion (26.4% higher than the July 2018’s collection of PKR 97.6 billion). The FED collection in July 2019 amounts 20% higher than the last year’s sum.
Moreover, the income tax collection (other than amnesty) in July 2019 is PKR 85.2 billion, which is 42% higher than the collection of July 2018. The filings of income tax returns in 2018 showed a 62% growth.
The progress of Performance Management Delivery Unit (PMDU) revealed that out of the 12,322 complaints received by FBR, 8,435 were resolved, 3,494 are new newly filed and 425 complaints are under-progress. The overall citizen satisfaction percentage is 53 per cent.
The performance report also held details about the initiative launched by the board. The Custom Operations Performance included Devices Identification, establishment of National Targeting Centre (NTC), Border Management Initiatives for Effective Anti-smuggling and Appraisement, Registration and Blocking System (DIRBS), creation of Directorate of Cross Border Currency Movement (CBCM), exemption of Custom Duty on import of Plant and machinery by Greenfield projects/industry through supplementary budget, launch of Authorised Economic Operator Programme, exemption/reduction of Custom Duty (CD) on industrial inputs, extension of exemption for FATA region, export Facilitation through Reduction in retention period, automation & simplification, increasing coverage of RD Regime; increase in pitch of Additional Customs Duty.
The Information Technology initiatives during last one year encompassed Virtual One Stop Shop (VOSS) auto Issuance of NTN, the introduction of Alternate Delivery Channel (ADC) for payment of tax through internet banking, ATM. Other steps included the introduction of FBR Maloomat which provides the asset information available with FBR to potential taxpayers, Mobile Application (Tax Asaan), the new website of FBR has been launched in the month of April 2019 and the work on Urdu version of the official website is in progress. Not to mention the fact in a short period of time FBR’s website is now ranked in top 25 websites in Pakistan according to Alexa & Similar Web ranking system.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
