FBR to revise the tax collection target?
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The downward revision in the tax collection target of Rs. 4.963 trillion (2020-21) for the Federal Board of Revenue (FBR) is under consideration, highly-place officials told Propakistani.
The issue of the downward revision in the revenue collection target of the FBR was discussed in detail during the last meeting of the International Monetary Fund (IMF) and the Ministry of Finance. The online meeting was held only on the subject of the FBR’s tax collection tax. The FBR officials were also present in the meeting which was held at the Ministry of Finance.
The Ministry of Finance and the FBR proposed the IMF to consider a downward revision in the tax collection target of Rs. 4.963 trillion (2020-21) as it is a very challenging and gigantic task requiring growth of over 20 percent in revenue every month of the remaining period of 2020-21.
The FBR proposed the IMF to scale down the revenue collection target from Rs. 4.963 trillion to Rs 4.550 trillion for 2020-21.
Ministry of Finance has proposed a downward revision in the tax collection target from Rs 4.963 trillion to Rs. 4.600 trillion for the outgoing fiscal year.
Top officials informed that the IMF has asked the government to continue to chase the ambitious target of Rs. 4.963 trillion in the remaining half of the current fiscal year.
