Pakistan tax potential equals Rs. 6000 billion: Member FBR  

Pakistan tax potential equals Rs. 6000 billion: Member FBR  
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ISLAMABAD: (APP) Federal Board of Revenue (FBR) successful implementation of initiatives to increase number of filers of Income Tax returns which has been increased to 1.1 million due to tax payers' friendly policies of the government.

This was stated by Member Inland Revenue Policy of the FBR Rehmatullah Wazir while briefing participants of 105th National Management Course who visited FBR on Wednesday along with Rector and faculty of National School of Public Policy (NSPP) conducting the course, a statement issued by the FBR said.

Member Customs, FBR Nasir Masroor Ahmed also spoke on the occasion and gave the visiting officers an overview of the roles and responsibilities of Pakistan Customs Service in enhanced revenue mobilization, trade facilitation and effective border management.

Earlier, the participants and the faculty led by NSPP Rector Muhammad Ismail Qureshi were welcomed by Member Administration FBR Majid Qureshi who in his welcome address briefly explained the role and responsibilities of the FBR .

He also thanked the NSPP for choosing FBR as a key government organization for inculcating strategic thinking among the course participants engaged in public policy formulation and decision-making at higher levels.

In his presentation on the Inland Revenue Service, Member IR Policy, Rehmatullah Wazir said FBR had adopted a broad range of measures and taken steps in recent months to broaden the tax base and increase the tax net.

"We believe that there is a tax potential equal to Rs 5500- 6000 billion and our efforts are directed to explore all possibilities for realizing this potential and generating much-needed resources for socio-economic spending," he said.

He said FBR had also taken measures to create distinction between filers and non-filers by raising the cost of doing business for non-filers.

Similarly, new perspectives such as creation and maintenance of central data bank, simplification of tax procedures, increased reliance on direct taxes within the tax-mix, minimum tax exemptions and withholding tax, robust audit and more transparency were also being explored to promote a culture of tax compliance.

Member Customs, FBR , Nasir Masroor Ahmed said the Customs was contributing significantly to overall tax revenue.

Later, an interactive question and answer session was also held and visiting participants asked questions on fiscal policy and taxation.  Commemorative shields were exchanged on the occasion.

 

 

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