Govt likely to achieve tax collection target of Rs2275bn

[farhan_9909]

ISLAMABAD: Member FBR for Inland Revenue Service, Shahid Hussain Asad said that FBR has collected tax to the tune of Rs1745 billion by 30th April, as compared to Rs1505 billion in the previous year by this time.

Talking to Radio Pakistan, he said that 530 billion rupees will be collected in the two remaining months of the financial year adding that the target will be achieved.

Responding to a question about broadening the tax net, Shahid Hussain said that Pakistan has an understanding with IMF that one lac more people will be brought under tax net and 91000 people have been added to the tax net so far.

He further said that the government also launched an investment scheme to strengthen economy.

Head of IR Department, National Defence University, Dr. Muhammad Khan hails the announcement of Finance Minister in which he predicted an increase of foreign reserve to the tune of 15 billion dollars by July this year.

He said that it was a positive development as Pakistan's foreign reserves remained low during the last few years.

Dr. Khan said that government's measures for the promotion of 3G and 4G technologies are really appreciable that will generate considerable employment opportunities in the country.

President, Islamabad Chamber of Commerce and Industry, Shaban Khalid said that some of the economic policies of the current government are good that will yield positive result in long term.

Senior economist, Dr. Salman Shah also said that it is too early to say that the next budget will give relief to people as necessary reforms are being introduced under the guidelines of an IMF program.

He said economic indicators are showing positive trends. Government has to control inflation. Reduced inflation will have positive impact on the lives of general public


Govt likely to achieve tax collection target of Rs2275bn

 

[ziaulislam]

not possible, he may do the classic book cooking but not paying tax refunds in order to achieve the target.
you simply cant increase taxation without bringing new people in tax net

 

[farhan_9909]

not possible, he may do the classic book cooking but not paying tax refunds in order to achieve the target.
you simply cant increase taxation without bringing new people in tax net

It is achievable because it is already brought down by more tahn 170Billion PKR in the recent meeting with IMF.

in reality they are 175-200Billion PKR or 2Billion dollars short of the target set in june 2013.

Though even the above target is 15-16% higher than last year compared to a increase of 9.2% in 2012-13.

The next year target is way too high.

 

[ziaulislam]

It is achievable because it is already brought down by more tahn 170Billion PKR in the recent meeting with IMF.

in reality they are 175-200Billion PKR or 2Billion dollars short of the target set in june 2013.

Though even the above target is 15-16% higher than last year compared to a increase of 9.2% in 2012-13.

The next year target is way too high.

well i was talking about the original target. govt may barely acheive the new target..frankly it should be called a target, the year is almost ending..

 

[farhan_9909]

well i was talking about the original target. govt may barely acheive the new target..frankly it should be called a target, the year is almost ending..

Well the reason i said the recently set target is achievable but the increase this year is almost 16% compared to 9.2% in either 2011-12 or 2012-13,As i don't correctly remember.

The next year target is 2.81Trillion PKR or an increase of almost 24%.I hope they achieve atleast 19-20% next year.If achieved,this will push our tax to GDP ratio to 11.9% from this year possible 10.5% against the 8.7% in 2011