August 4, 2021

Domestic Tax Collection Increases By 60% In 2019

Due to the strict austerity measures of the current government, the domestic tax collection, by the Inland Revenue Wing of the FBR, has increased by almost 60%. The FBR had achieved 99.2% of it’s domestic tax collection target by July 2019 and had collected Rs234 billion against the target of Rs236 billion, through the Inland revenue wing of the FBR.

Moreover, the number of filers in 2018 increased to 2,404,371 as compared to 1,486,756 return filers in 2017. Similarly, the collection of sales tax in July 2019 reached up to Rs123.4billion, which stood at Rs97.6 billion during the same time period last year.

The FBR sorted out over 6000 high net worth cases and through specialized units in the Regional Tax Offices, enforced almost 3000 return filings. Moreover, Rs189million were paid by taxpayers who availed the tax amnesty scheme.

The FBR realizing the importance of technology in tax collections also started several projects to ease the process of tax filing. For instance, Virtual One Stop Shop (VOSS) for auto issuance of NTN was established, steps were taken to collect taxes through internet banking and ATM machines, FBR malomaat system was introduced, through which taxpayers could access the assets information available to the FBR, and FBR also launched it’s new website and work is still being done to launch an Urdu variant of the website.

Furthermore, according to the one-year performance report of the PTI government, shared by Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan on Sunday, FBR also took the following initiatives to increase revenue collection:

  • Introduction of Devices Identification, Registration and Blocking System (DIRBS)
  • National Targeting Center was established (NTC)
  • Border Management Initiatives
  • Establishment of Directorate Of Cross Border Currency Movement (CBCM)
  • Launching of Authorized Economic Operator Program
  • Establishment of Tax Intelligence Unit (TIU) and Market Monitoring and Intervention (MMI), under the Trust Fund for Accelerated Growth and Reforms (TAGR) Project
  • Establishment of the Currency Declaration System and Advances Passenger Information System at major airports of the country
  • Implementation of Tobacco Track and Trace System
  • Auditing of Sugar, Tobacco and Steel industries to address leakages and tax evasions.

Add comment