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 theFBR was discussed in detail during the last meeting of the InternationalMonetary Fund (IMF) and the Ministry of Finance. The online meeting washeld only on the subject of the FBR’s tax collection tax. The FBR officialswere 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 downwardrevision in the tax collection target of Rs. 4.963 trillion (2020-21) as itis a very challenging and gigantic task requiring growth of over 20 percentin revenue every month of the remaining period of 2020-21.

The FBR proposed the IMF to scale down the revenue collection target fromRs. 4.963 trillion to Rs 4.550 trillion for 2020-21.

Ministry of Finance has proposed a downward revision in the tax collectiontarget from Rs 4.963 trillion to Rs. 4.600 trillion for the outgoing fiscalyear.

Top officials informed that the IMF has asked the government to continue tochase the ambitious target of Rs. 4.963 trillion in the remaining half ofthe current fiscal year.