FBR collects Rs 1,519b revenue with growth rate of 13pc in 8 months

[Kabira]

ISLAMABAD: The Federal Board of Revenue (FBR) has shown a historic performance regarding revenue collection in the first eight months of the current fiscal year 2014-15.

The FBR collected Rs 1,519 billion revenue, showing 13 percent increase in collection, as only Rs 1,341 billion was collected during the same time last year 2013-14.

Talking about the monthly performance, the FBR collected Rs 182 billion until February 27, showing 27 percent growth when compared with February of last year, as only Rs 143 billion was collected than.

The current performance of the FBR has silenced the critics. In the current situation of country and in such a tax culture where nobody is ready to pay tax, collection of such a huge amount is admirable.
Despite this historic performance, the government is giving a tough time to the FBR.

The board is trying to do well in accordance with the government’s orders, which is evident by the performance in revenue collection.

FBR collects Rs 1,519b revenue with growth rate of 13pc in 8 months | Customs Today Newspaper

Seem like this piece was written by FBR fanboy. @farhan_9909

 

[farhan_9909]

Poor performances,last year we achieved almost 16% and this year we are still short of last year growth.

Year on Year,if it is less than 18% than consider it a poor performances.

anyway what size of budget outlay you expect this year?5.5trillion pkr?

@save_ghenda

 

[Kabira]

Poor performances,last year we achieved almost 16% and this year we are still short of last year growth.

Year on Year,if it is less than 18% than consider it a poor performances.

anyway what size of budget outlay you expect this year?5.5trillion pkr?

@save_ghenda

At best 5 trillion pkr i think, maybe little less.

 

[Faiez]

lower the tax rates and lower government spending and control. long live free market !

 

[Kabira]

I wonder what target will FBR set for next year, most likely 3.1 trillion PKR.

 

[Qalandari]

Poor performance. Most indicators showing a negative trend.

 

[ziaulislam]

it was expected due to fall in inflation. govt is just banking on direct taxes .so growth has usually been equal to inflation+gdp growth.
in other first two years we saw nothing special or new in taxation. though we didnt see anything in PPPP era too.
on tax to gdp front there has been no improvement at all

 

[Kabira]

it was expected due to fall in inflation. govt is just banking on direct taxes .so growth has usually been equal to inflation+gdp growth.
in other first two years we saw nothing special or new in taxation. though we didnt see anything in PPPP era too.
on tax to gdp front there has been no improvement at all

We actually improved little bit gdp to tax ratio last year. This year if FBR get to target of 2691b pkr then tax to gdp ratio will be 9.3%.

 

[ziaulislam]

We actually improved little bit gdp to tax ratio last year. This year if FBR get to target of 2691b pkr then tax to gdp ratio will be 9.3%.

little bit due to obviously sale tax increase of 1% and increase on oil taxation on diseal from 17 to 33%
and other taxation on poor people

 

[I FLY HIGH]

little bit due to obviously sale tax increase of 1% and increase on oil taxation on diseal from 17 to 33%
and other taxation on poor people

revenue from sales tax from petroleum products has decreased in total despite increase in percentage , while 1%ST was imposed last year not in this FY14-15.

 

[ziaulislam]

revenue from sales tax from petroleum products has decreased in total despite increase in percentage , while 1%ST was imposed last year not in this FY14-15.

nope according to FBR it increased from 136 to 144 billion rupees in last quater primary due to massive increase in sales tax and increased consumption.
had prices not fallen(and with increase of tax) the increase would have been much more massive than a few billion rupees.
in other words govt countered the fall in oil prices by increasing sales tax which payed out better than expected

this news was on tribune a few weeks back, google it and you will find it

The curious tale of PML-N’s petroleum tax | Pakistan Today

• Increase in tax rate for petroleum products is almost 60 per cent, making it the largest SRO in Pakistan’s history in terms of revenue impact
• Hike in GST rate has not only compensated fall in revenues, as per govt claims it has also generated additional revenues of over Rs 36b

point is PML N supporters are more blind the PPPP supporters

govt has performed well on many fronts than previous govt however that doesnt include taxation and power sector

revenue from sales tax from petroleum products has decreased in total despite increase in percentage , while 1%ST was imposed last year not in this FY14-15.

should i start listing new direct taxation for this year if you want?! or just read the 4 mini budgets govt has brought forward this year due to continuous fall of taxation targets

 

[I FLY HIGH]

nope according to FBR it increased from 136 to 144 billion rupees in last quater primary due to massive increase in sales tax and increased consumption.
had prices not fallen(and with increase of tax) the increase would have been much more massive than a few billion rupees.
in other words govt countered the fall in oil prices by increasing sales tax which payed out better than expected

this news was on tribune a few weeks back, google it and you will find it

The curious tale of PML-N’s petroleum tax | Pakistan Today

• Increase in tax rate for petroleum products is almost 60 per cent, making it the largest SRO in Pakistan’s history in terms of revenue impact
• Hike in GST rate has not only compensated fall in revenues, as per govt claims it has also generated additional revenues of over Rs 36b

point is PML N supporters are more blind the PPPP supporters

govt has performed well on many fronts than previous govt however that doesnt include taxation and power sector


should i start listing new direct taxation for this year if you want?! or just read the 4 mini budgets govt has brought forward this year due to continuous fall of taxation targets

Pmln supporter is blind ? not really as we can see int he masses that financial pressure is getting down and people are more relieved as the CPI has come down and especially poor and middle class is more relieved , you have to take out your political glasses and only then you could see . Coming to point according to your calculations govt has earned 8 billion PKr from petroleum products in the last quater , pls open up your eyes and see that the overall tax collection is raised by 13 % in the last 8 months which is 178 billion Pkr , how could you further forget that the govt has increases 17 per cent tax collection from 1950 billion to 2260 billion during last FY . if you further add 13 percent in last 8 months it contributes to 30 percent increase in tax revenue collection in last 20 months . You are only referring to 8 billion rupees , just like many paid anchors who dont have worth anymore and only could speak louder while cannot prove anything . People can judge the govts performance and are not confused by such poorly planted and ill designed posts .

 

[ziaulislam]

Pmln supporter is blind ? not really as we can see int he masses that financial pressure is getting down and people are more relieved as the CPI has come down and especially poor and middle class is more relieved , you have to take out your political glasses and only then you could see . Coming to point according to your calculations govt has earned 8 billion PKr from petroleum products in the last quater , pls open up your eyes and see that the overall tax collection is raised by 13 % in the last 8 months which is 178 billion Pkr , how could you further forget that the govt has increases 17 per cent tax collection from 1950 billion to 2260 billion during last FY . if you further add 13 percent in last 8 months it contributes to 30 percent increase in tax revenue collection in last 20 months . You are only referring to 8 billion rupees , just like many paid anchors who dont have worth anymore and only could speak louder while cannot prove anything . People can judge the govts performance and are not confused by such poorly planted and ill designed posts .

if you are saying that PML N performed better than PPPP in last 18 months in field of taxation and power than statistics dont back you up.

there has been minimum to no increase in tax to gdp ratio with all taxation increase being direct taxation against the poor.
power theft and losses have gone up.

if someone cant see those statistics than they are blind

though govt has performed better by entering iMF program, lowering the budget deficit and getting expensive bonds. i do appreciate these decisions but i dont it as special performance worthy of being praised

lets say govt had achieved its own targets of taxation that it declared in budget without killing the masses by increasing direct taxation and it had atleast made some improvement in power theft and power sector i would have said that govt has done well. so far both sectors have similar performance what it had during PPPP era

I cant credit a govt for what it WILL DO or INTEND TO DO.
there is some hope in form of potential coal plants, gas import and potential privatization of power companies and calls for FBR reforming but as i said its still a MAYBE

 

[I FLY HIGH]

if you are saying that PML N performed better than PPPP in last 18 months in field of taxation and power than statistics dont back you up.

there has been minimum to no increase in tax to gdp ratio with all taxation increase being direct taxation against the poor.
power theft and losses have gone up.

if someone cant see those statistics than they are blind

though govt has performed better by entering iMF program, lowering the budget deficit and getting expensive bonds. i do appreciate these decisions but i dont it as special performance worthy of being praised

lets say govt had achieved its own targets of taxation that it declared in budget without killing the masses by increasing direct taxation and it had atleast made some improvement in power theft and power sector i would have said that govt has done well. so far both sectors have similar performance what it had during PPPP era

I cant credit a govt for what it WILL DO or INTEND TO DO.
there is some hope in form of potential coal plants, gas import and potential privatization of power companies and calls for FBR reforming but as i said its still a MAYBE

I think now you are more realistic in some areas , Tax collection has definately improved which is a positive sign like if Tax collection in FY12-13 was 1950 Billion and it is expected to be 2500-2600 billions in FY14-15, it is done without raising the inflation and CPI , it is a positive and welcome sign on the side of the govt . I give credit to govt but Question is that is this the right amount of tax revenue collected wrt Gdp answer is no . Govt surely has to net the people out of the tax net , no doubt about it .

Now come to Power sector , govt has not done anything to control power theft and losses , while i have not stated anything to give credit to govt in power theft . Govt has the plan of privatisation of discos to resolve this issue , we shall give credit to govt only when privatisation takes place . Nevertheless this policy is correct .

 

[ziaulislam]

I think now you are more realistic in some areas , Tax collection has definately improved which is a positive sign like if Tax collection in FY12-13 was 1950 Billion and it is expected to be 2500-2600 billions in FY14-15, it is done without raising the inflation and CPI , it is a positive and welcome sign on the side of the govt . I give credit to govt but Question is that is this the right amount of tax revenue collected wrt Gdp answer is no . Govt surely has to net the people out of the tax net , no doubt about it .

Now come to Power sector , govt has not done anything to control power theft and losses , while i have not stated anything to give credit to govt in power theft . Govt has the plan of privatisation of discos to resolve this issue , we shall give credit to govt only when privatisation takes place . Nevertheless this policy is correct .

nope tax collection has not IMPROVED. any govt could have done it. inflation remained study due to falling oil prices and stable rupee otherwise it would have risen sharply due to increase in indirect taxation. again unless PML N is responsible for low international oil prices i cant give them credit. just like a negative event like floods or earth quake means we cant blame somebody similar a positive international event doesnt mean you can give credit to the govt. inflation has been down in all subcontinent countries. inflation would have been gone down even if PPPP would have been in power

point is direct sales tax is not even collected by the govt directly, why bother with FBR at all, if all govt has to do is to collect direct taxation??

again as i said govt has planned alot of things in power sector but has done nothing, no reforms no dams , and we dont know whether it will do anything in next 3 years or not. simply planning doesn't gives you credit!