fbpx

Rs 2,105 billion revenue collected during last 9 months, Senate Committee told

-

ISLAMABAD, Pakistan: Senate Standing Committee on Finance, Revenue and Economic Affairs here on Tuesday was informed that about Rs 2,105 billion revenue was collected during last nine months of current fiscal year (2015-16).

The committee which met here with Senator Saleem H. Mandivawla in chair was also apprised that every individual tax payer was paying average Rs 18,000 tax.

It was also informed that about one million filers were filing their returns and Federal Board of Revenue was making all out efforts for broadening the tax base.

Member Federal Bureau of Revenue (FBR) Rahmatullah informed the committee that in order to enhance the revenue collection and facilitate the tax payers, a Tax Reforms Committee comprising public representatives and experts was formed.

The committee has prepared its comprehensive report of over 4,000 pages recommending the ways and means to broaden the tax base and remove bottlenecks to enhance revenue collection, he added.

He said the corporate sector was the biggest contributor in tax collection and it was paying about 90 percent to the total tax collection in the country.

The member FBR said that despite encouraging growth in revenue collection, per capita investment in revenue collecting authorities were lowest as compared to rest of globe.

Meanwhile, a panel of economists and experts comprising on Dr. Salman Shah, Saqib Sherani and others told the committee that current tax system was insulate under funds the state, chocks developments and burdening the already tax payers.

They urged the need of create equity, transparency and accountability besides improving the administration to enhance tax collection for bridging the gap between income and expenditures of the government.

They asked for bringing all above threshold income in tax net and closing the loopholes to whiten the money besides isolate FBR from political influence.

The representatives of Pakistan Bureau of Statistics informed the committee about its budget for the current financial year and its expenditures.

Secretary Benazir Income Supports Programme also informed the committee about their budgetary allocations and expenses.

The Senators, Ilyas Ahamd Bilour, Ayesha Raza Farooq, Kamil Ali Agha, Saud Majeed and Sardar Fateh Muhammad Muhammad Hassani attended the meeting.

Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Latest article