FBR offices work on weekly holidays to avoid tax revenue shortfall

FBR offices work on weekly holidays to avoid tax revenue shortfall

KARACHI: The offices of Federal Board of Revenue (FBR) are working on weekly holidays in order to avoid shortfall in tax revenue.

A FBR officer told PkRevenue on Saturday that the offices of Inland Revenue and Pakistan Customs are working on April 29, 2023 and will also work on Sunday April 30, 2023 in order to facilitate taxpayers in revenue collection.

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The officer said that the revenue body was endeavoring to reduce the shortfall for the month of April 2023 and for first ten months (July – April) 2022-2023.

Reportedly, the FBR has suffered a massive shortfall of over and above Rs 100 billion during the month of April 2023.

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Provisional data compiled by the FBR on April 28, 2023, revealed that the revenue body collected nearly Rs 486 billion against the assigned target of Rs 586 billion during April 2023, reflecting a shortfall of over Rs 100 billion.

Tax machinery would compile final figures in the next two days till April 30. The revenue collection would improve on compilation of final figures by the end of April 30.

The FBR has to collect Rs2.58 trillion federal taxes during the last quarter (April-June) to meet the desired annual tax collection target of Rs7.64 trillion.

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The Federal Board of Revenue (FBR) has issued instructions to all Large Taxpayer Units, Corporate Regional Tax Offices and Regional Tax Offices of Federal Board to open their offices on April 30 to facilitate taxpayers.

The offices have been instructed to also extend their working hours till 08:00 pm on Saturday to facilitate the taxpayers in payment of duties/taxes and filing of income tax returns/statements, an FBR press statement said.

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The FBR has further instructed the Chief Commissioners-IR to establish liaison with State Bank of Pakistan (SBP) and authorized branches of National Bank of Pakistan to ensure transfer of tax collection by these branches on April 30, to the respective branches of SBP on the same date so as to account for the same towards the collection for the month of April as per central banks directions.