*ISLAMABAD – **Federal Board of Revenue Chairman hints at massiverestructuring of the tax collecting organisation. *
*Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi on Tuesday saidthat restructuring would take place in the tax collecting organisation,only after taking all stakeholders on board.*
“I thank all the CCIR of IRS [Inland Revenue Service] for very productivemeeting,” said Zaidi in a tweet.
“Restructuring/transformation of FBR will be undertaken after taking intoaccount feedback of all the stakeholders. Whole organisation including alllevels of staff, will be taken into consideration,” he added.
I thank all the CCIR of IRS for very productive meeting.Rerestructuring/transformation of FBR will be undertaken after taking intoaccount feedback of all the stakeholders. Whole organisation including alllevels of staff, will be taken into consideration.
— Syed Shabbar Zaidi (@ShabarZaidi) 5 November 2019link
Read Top Stories
Earlier, it was learnt that the growth in revenue collection of the FBR isunlikely to go beyond 26 percent given the current trend against 44 percentrequired to achieve Rs 5.5 trillion tax target for the current fiscal year.
Sources said that the current trend suggests that by the end of fiscal yearthere would be a shortfall of over Rs 600 billion in FBR revenue collectionas total tax collection.
There was a shortfall of Rs 164 billion in FBR revenue collection duringJuly-October (2019-20) as total collection stood at Rs 1,283 billionagainst the target of Rs 1,447 billion for the first four months of thecurrent fiscal year.
Senior officials of the FBR maintain that the shortfall in revenuecollection was primarily because of contraction in imports as more than 31percent revenue is collected at import stage in the form of customs duty,withholding tax, general sales tax. They point out that there was acontraction of $3 billion in import bill during the first quarter of thecurrent fiscal year (around Rs 506 billion), whose impact on total FBRrevenue collection during the first quarter was recorded at Rs 125 billion.
