Finance Minister advises FBR to increase efforts in tax collection

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Finance Minister advises FBR to increase efforts in tax collection
Finance Minister Ishaq Dar has advised the Federal Board of Revenue to increase its efforts in tax collection to bring the tax to GDP ratio to 15 percent.

He said this while chairing an FBR meeting in Islamabad on Thursday.

Chairman FBR Asim Ahmad briefed that FBR has successfully achieved its monthly targets for the months of July and August, 2022 and will also achieve the quarterly target up to this month.

He said this performance is despite the slowing down of economy in the month of September due to floods, import contraction and shrinking of demands due to inflation in the country as well as no sales tax imposed on petroleum products.

The Finance Minister appreciated the FBR team for their efforts in meeting the targets. He has also ensured the team that he will be engaged more frequently with them and will extend support for the performance of their duties. He advised the FBR team to position themselves to the quick changes in economic outlook.

Overall, the Finance Minister appreciated the good work done by FBR in terms of increasing the share of direct taxes in the total share of taxes as compared to last year through the important tax measures taken this year for taxing the rich.

The Finance Minister also highlighted the importance of taxpayers’ engagement in devising the tax policies and revenue collection efforts.

The meeting was attended by the top leadership of the FBR.

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