According to senior FBR officials,the expanded tax collection goal of Rs. 6.1 trillion for 2021-22 would not be met.
The tax collecting mechanism has been allocated to reach the budgeted aim of Rs. 5.8 trillion for 2021-22, and monthly targets have been set accordingly.
The FBR has not conveyed the Rs. 6.1 trillion revenue collection objective to FBR Members of Inland Revenue Operations and Customs Operations, according to sources. These members, who are the leaders of their various field formations, have set quarterly and monthly field formation objectives of Rs. 5.8 trillion for the current fiscal year, rather than Rs. 6.1 trillion.
Officials indicated the FBR’s DashBoard (computers that monitor tax collection) had a breakdown of Rs. 5.8 trillion, not Rs. 6.1 trillion, when queried about the expanded revenue collection objective of Rs. 6.1 trillion for 2021-22. As a result, the FBR’s real objective is Rs 5.8 trillion, not Rs 6.1 trillion.
“It is crucial to state that even though FBR committed to a goal of Rs. 6,100 billion with the IMF, the same was never declared an objective of FBR,” the FBR said in a press release recently. To meet the revised objective of Rs. 6,100 billion, FBR will require Rs. 484.5 billion each month to meet the original target of Rs. 5,829 billion, and Rs. 621 billion in May and June 2022. This fiscal year, the current administration is dead set on collecting Rs. 6,100 billion.”
The Federal Board of Revenue (FBR) is anticipated to set an ambitious tax collection goal of Rs. 7.2 trillion for 2022-23, according to the federal government.