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FBR chairman visits Karachi to boost revenue collection

ISLAMABAD: The Chairman of Federal Board of Revenue (FBR) Muhammad Javed Ghani to hold meetings with senior officials of Inland Revenue and Pakistan Customs on Monday January 18, 2021 to discuss measures to boost revenue collection during second half of the current fiscal year.

The chairman will hold meetings during his visit to Karachi on January 18, 2021.

According to the visit schedule, the chairman will meet Chief Commissioners Inland Revenue of Large Taxpayers Office (LTO), Medium Tax Office (MTO), Corporate Tax Office (CTO), Regional Tax Office (RTO)-I and RTO-II.

The chairman will also meet chief collector of Customs enforcement and chief collector of customs appraisement. The chairman will also meet director generals of Input-Outpu Coefficient Organization (IOCO), Transit Trade, Valuation and Research and Analysis.

FBR sources said that the meetings would focus on revenue collection during the second half (January – June) of fiscal year 2020/2021.

The FBR needs to collect tax at a difficult growth rate of 45.5 percent in second half (January – June) of fiscal year 2020/2021 to achieve full year revenue collection target of Rs4,963 billion.

According to provision figures released by the FBR’s net collection for the first half (July – December) of fiscal year was at Rs2,204 billion as compared with Rs2,101 billion in the same period of the last fiscal year, showing a growth of five percent.

The FBR also missed the revenue collection target for the first half by slight margin. The collection target for the first half of the current fiscal year was Rs2,210 billion.