Caretaker finance minister asks FBR to broaden tax base

ISLAMABAD: Caretaker Finance Minister Shamshad Akhtar on Friday visited to the Federal Board of Revenue (FBR) headquarters to discuss and evaluate the performance of the revenue collection agency.

She chaired meeting to take an overview of the FBR’s progress and accomplishments, aiming to lay the groundwork for enhancing revenue generation and fulfilling the financial objectives of the country.

During the meeting, FBR Chairman Malik Amjad Zubair Tiwana presented a comprehensive briefing to the caretaker finance minister.

The focus of the briefing revolved around assessing the FBR’s performance during the previous financial year, where the target for revenue collection was set at Rs7,200 billion.

He said that the collected revenue stood at Rs7,169 billion, marginally short of the goal.

Looking ahead to the upcoming financial year, he said that the revenue target has been set at Rs9,415 billion. In light of this ambitious target, he emphasised that the FBR is dedicated to employing all available resources and strategies to attain the target.

FBR surpasses July revenue collection target

Tiwana highlighted the agency’s ongoing efforts to simplify the tax payment process, enhancing the convenience and ease of complying with tax obligations for taxpayers.

He expressed his commitment to further refining the tax payment procedure, ensuring a seamless and straightforward experience for all stakeholders involved.

In response, Caretaker Finance Minister Shamshad Akhtar emphasized the necessity of crafting a robust strategy to broaden the tax base. She stressed that innovative approaches should be explored to bring currently untaxed sectors into the tax net.

The minister urged for a concerted effort towards achieving the revenue targets for the current financial year, underscoring the importance of bolstering the country’s economic foundation.

Dr Akhtar articulated her expectations that all possible measures would be taken to meet the revenue objectives for the ongoing financial year.

She reiterated her confidence in the FBR’s potential and capabilities and expressed her optimism that collaborative efforts would drive the nation towards fiscal prosperity.