Islamabad: The sub-panel of the Public Accounts Committee on Wednesday (August 26) was informed that the Federal Board of Revenue (FBR) could collect PKR 6 trillion in taxes if its internal structure was improved, a news source reported.
On the occasion, while responding to a question raised by a member of the committee, FBR Chairman Muhammad Javed Ghani revealed that the details of citizens that had made huge transactions in China, Japan, UK and UAE were being acquired. He further stated that the tax authority was being assisted in this regard by the aforementioned countries’ commercial attaches in order to probe the matter further.
Additionally, while highlighting the current low revenue collection from income tax on services, Ghani mentioned that even though certain sectors had a major share in the GDP, their contribution in taxes was not up to par.
The sub-committee also took the opportunity to review the FBR audit paras from 2005 to 2009 during the session, and also raised concerns over the cases pending with the tribunal.
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