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Restriction on imports results fall in revenue: FBR

FBR surpasses budgetary target by Rs4bn
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November 15, 2022 (MLN): The recent restriction on imports has resulted in a fall in tax revenue, Chairman Federal Board of Revenue (FBR) Asim Ahmed said on Tuesday during a meeting held at National Assembly.

"Due to a fall in imports FBR collection has been affected and in November it might fall by 20%", he added.

When the budget was being prepared, the dollar-rupee parity was at Rs207 per USD.

Further, he said that the government is not imposing any tax and "We will soon talk to International Monetary Fund (IMF) about tax collection."

Earlier, IMF was satisfied with tax collection and reforms during the last review of the country.

Moreover, 100,000 new taxpayers filed a tax return in the fiscal year, and in all 0.25 million tax returns have been filed compared to 0.36mn tax returns filed in the same period last year.

Chairman said, due to floods during the current fiscal year tax collection needs to review, and for this year tax collection is Rs7470 billion.

Through returns, income tax collection reaches Rs52bn, and it may fall in the coming year as well.

Copyright Mettis Link News

Posted on: 2022-11-15T15:42:05+05:00

 

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