Tax Collection Target May Exceed Rs. 12.5 Trillion Next Fiscal Year: Chairman FBR

Chairman Federal Board of Revenue (FBR) Malik Amjad Zubair Tiwana said on Monday that the regulator’s tax revenue target for the next fiscal year may exceed Rs. 12.5 trillion. provided insights into the proposals for the upcoming federal budget. In an informal discussion with reporters today, Chairman FBR discussed various proposals aimed at enhancing the tax base and collection in the upcoming budget. Tiwana also stressed the importance of extending the registration of the Tajir Dost Scheme into the next fiscal year to broaden its reach and effectiveness. Chairman FBR said efforts are underway to enhance the efficiency of the track and trace system and also confirmed that FBR is striving to meet the tax targets set for the current fiscal year. He added that measures will be introduced in the Finance Bill to ensure that non-filers are brought into the tax net, thereby improving overall tax compliance and revenue collection.