Finance Minister Shamshad Akhtar stresses on making all-out efforts to achieve the ongoing year’s revenue collection target

ISLAMABAD, August 18 (SABAH): Newly appointed Caretaker Federal Minister for Finance and Revenue Shamshad Akhtar visited the Federal Board of Revenue Headquarters on Friday and held a meeting with Chairman FBR Malik Amjed Zubair Tiwana and Members of the Board to review revenue collection performance of FBR.

Secretary Finance Imdad Ullah Bosal and senior officers from FBR and Finance Ministry were also present. During the meeting, Chairman FBR gave a detailed presentation to the Minister about the revenue collection performance of FBR including the assigned targets for the current financial year 2023-24 and the strategy to achieve them. He informed that FBR was able to collect Rs. 7169 billion against a target of Rs. 7200 billion in the previous financial year.

The Chairman further apprised that all efforts will be made to meet this year’s collection target of Rs. 9415 billion. Chairman FBR also informed the caretaker Minister about the procedural improvements being made to simplify the process of paying taxes in order to facilitate the taxpayers. He also gave an update on important initiatives of FBR including Broadening of Tax Base, Track and Trace System and Point of Sale System whereby efforts are afoot to further enhance revenue generation.

The caretaker Finance Minister emphasized on devising strategies to further enhance tax-to-GDP ratio and broaden the tax base to maximize revenue collection. She also called for finding innovative ways to tax the untaxed sectors. The Minister stressed on making all-out efforts to achieve the ongoing year’s revenue collection target.