FBR needs Rs238 billion/month to achieve fiscal year target

KARACHI: The Federal Board of Revenue (FBR) is facing an uphill task for collecting above Rs238 billion per month till June 2014 for achieving revenue collection target of Rs2475 billion during the current fiscal year.
As per latest figures released by the FBR, the total collection till November 30 since start of current fiscal year is Rs806 billion or 32 percent of the total target. It makes remaining 68 percent has to be collected in remaining December – June 2013/2014.
The FBR was assigned Rs2475 billion target considering bad economic situation but despite efforts the revenue body unable to bring visible changes in the revenue collection. Since July 2013 massive administration changes had been brought in but it helped in curtailing corruption and leakage of revenue in terms of evasion.
However, revenue collection efforts remained below performance. The monthly average is gradually creeping up. At the time of fixing the target the monthly average collection was Rs206 billion, which is no Rs238 billion.
FBR officials said that as the government had announced to launch an amnesty for industrial set up the revenue collection efforts further affected.

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