Karachi: The Federal Board of Revenue (FBR) is considering a downward revision in the assigned collection targets to its field offices in the aftermath of the lockdown implemented as a preventive attempt against the outbreak of novel coronavirus, according to news sources.
Sources report the revenue authority has directed its field offices to submit their capacity for revenue collection during March 2020 and the remaining of the FY 2019-2020. Previously, FBR was aiming to achieve a 70% increase in the current month as compared to last year’s figures during the same timeframe. Sources speculate FBR’s collection growth to be little over 10% during this month.
Amidst the coronavirus infection outbreak, an official of the Large Taxpayers Unit (LTU) Karachi said that the sales tax collection on the import stage is diminishing since March 23. The tax authority is expected to face more loses – which might lead to a downwards target, he added.
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.
