FBR Adjusts Tax Collection Target to Rs. 5.8 Trillion for FY22

The Federal Board of Revenue (FBR) is not chasing the enhanced tax collection target of Rs. 6.1 trillion for 2021-22, top FBR officials revealed to Propakistani. The tax machinery has been assigned to meet the budgetary assigned tax collection target of Rs. 5.8 trillion for 2021-22 and monthly targets have been assigned based on this. Sources told Propakistani that the FBR has not communicated Rs. 6.1 trillion revenue collection target to FBR Members of Inland Revenue Operations and Customs Operations. These members, heads of respective field formations, have not assigned quarterly and monthly targets of the field formations based on Rs. 6.1 trillion, but Rs. 5.8 trillion for the outgoing fiscal year. When asked about the enhanced revenue collection target of Rs. 6.1 trillion for 2021-22, officials said that the FBR’s DashBoard (computers monitoring revenue collection) has a breakup of Rs. 5.8 trillion and not Rs. 6.1 trillion. Thus, the actual target of the FBR is Rs 5.8 trillion and not Rs 6.1 trillion. Recently, the FBR had issued a press release saying, “It is pertinent to mention that even though FBR had agreed to a target of Rs. 6,100 billion with the IMF, the same was never made a target of FBR. So now FBR would need Rs. 484.5 billion per month to achieve the initial target of Rs. 5,829 billion and Rs. 621 billion each in May and June 2022 to achieve the revised target of Rs. 6,100 billion. The present government is fully determined to collect Rs. 6,100 billion in this fiscal year.” The federal government is expected to fix Rs. 7.2 trillion as the ambitious tax collection target of the Federal Board of Revenue (FBR) for 2022-23.