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Tag Archives: revenue target

Telangana to meet tax deficit from pensioners

NEW DELHI: Pensioners of widows and old-age people in Talanga state have come to a difficult situation as state has stopped their pensions to meet revenue target. It has come to light that in Chief Minister Mr K. Chandrasekhar Rao’s home district Medak, over-enthusiastic officials have stopped payment of pensions to beneficiaries and are adjusting the amount towards taxes. Siddipet ... Read More »

FBR fixes Rs196b revenue target for Oct, Rs677b for 2nd quarter

ISLAMABAD: To achieve the annual revenue target of Rs2,810 billion, Federal Board of Revenue (FBR) has announced maximum targets for October as well as for second quarter (Oct-Dec) of financial year 2014. Sources said that FBR has fixed Rs196.4 billion revenue collection target for the month of October, while target for second quarter has been fixed at Rs676.9 billion. FBR ... Read More »

FBR chief Bajwa gives Rs 42.265 billion target to Multan Customs

MULTAN: The Federal Board of Revenue (FBR) has assigned Rs 42.265 billion revenue target to Multan Customs Collectorate (MCC) for fiscal year 2014-15 while it collected Rs 36.233 billion last year. FBR Chairman Tariq Bajwa assigned the revenue generation target in a meeting with customs’ collectors during his visit to the region. The customs sales tax revenue target for current ... Read More »

Punjab fixes Rs 5.74 billion revenue target for Gujranwala

SIALKOT: The Punjab government has fixed a recovery target of Rs 5.74 billion as agricultural income tax, stamps duty, registration fees, land revenue tax and capital value tax on the sale, purchase and transfer of the properties and lands in Sialkot, Narowal, Gujrat, Hafizabad, Mandi Bahauddin and Gujranwala districts. According to the senior officials of the Board of Revenue Punjab, ... Read More »

FBR collects Rs 1b more revenue in August

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the monthly revenue collection target of Rs 180 billion for August 2014 as it collected over Rs 181 billion during the month. Official data obtained by Customs Today showed that the FBR has provisionally collected over Rs 181 billion during the first 29 days of August 2014 against assigned monthly revenue ... Read More »

Customs central region not assigned revenue target

LAHORE: The Federal Board of Revenue (FBR) has not yet assigned target for the customs central region even nearly two month have passed since the start of the fiscal year 2014-15. Sources said that the FBR has issued revenue target in the first month of the fiscal year, however, it has not yet issued target for customs central region. Moreover, ... Read More »

Hyderabad Customs collects Rs 382.51m in July

KARACHI: The Model Customs of Collectorate (MCC) Hyderabad has collected an amount of Rs 382.51million in the month of July-2014 in share of Customs Duty (CD), Sales Tax, Federal Excise Duty (FED) and Withholding tax. According to details, the Hyderabad Collectorate has collected an amount of Rs 64.81 million in share of Customs Duty with the decrease of 56 per ... Read More »

MCC Export skips revenue target in July

KARACHI: The Model Customs Collectorate (MCC) of Export has failed to collect desirable revenue in July, first month of current fiscal year 2014-15. The FBR sources informed Customs Today that the MCC Exports had also missed revenue targets during the last fiscal year 2013-14 and now after claiming new efforts it missed the first month target of current fiscal year. ... Read More »

Ishaq Dar refuses to cut FBR revenue target of Rs 2810b

Islamabad: Federal Minister of Finance Ishaq Dar has made it clear to Federal Board of Revenue (FBR) that revenue target of Rs 2810 billion will not be lessened at any cost for FY 2014-15. While addressing to tax commissioner conference in FBR headquarters, he said “I am fully confident that FBR has the ability to collect revenue more than the ... Read More »

FBR starts homework to achieve revenue target

ISLAMABAD: The Federal Board of Revenue (FBR) has started evolving a foolproof strategy to achieve the revenue target set for the current financial year. According to details, for the execution of budgetary measures, consecutive meetings are being held at FBR Headquarters under the chair of FBR Chairman Tariq Bajwa. In this regard, an important meeting was held that was chaired ... Read More »

Collaborative efforts needed for better revenue collection: Tariq Bajwa

ISLAMABAD: FBR Chairman emphasized Members of FBR to expedite the efforts to achieve the revenue target for FY2014-15. As per details, FBR Chairman Tariq Bajwa presided an important meeting on budget/revenue reforms and their execution plans to achieve the revenue target for FY 2014-15. The Meeting was held at Federal Board of Revenue (FBR) head quarter here the other day. ... Read More »

Lahore MCC Appraisement collects additional Rs 182 million in June

LAHORE: The Model Collectorate of Customs (MCC) Appraisement Lahore exceeded monthly revenue recovery of June 2014 by 8 percent, collecting Rs 2474.82 million against Rs 2292 million target. As per details, MCC collected additional revenue of Rs182.82 million during June, which is 10 percent more than last year. Moreover, FBR Chairman directed all Additional Collectors, Deputy Collectors and Assistant Collectors to ... Read More »

FBR chairman devises new strategy for achieving revenue target

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa devised new strategy to achieve the annual revenue target for FY 2014-15. The FBR Chairman has issued strict instructions to all field officers to accomplish the task.  He warned the field formation officers that only those officers will remain in FBR who show good performance. As per new strategy, all field ... Read More »

FBR asks govt to reduce revenue target of Rs2810b

Islamabad: FBR officials have proposed federal government to review its Rs2810 billion revenue target and asked to decrease it to Rs 2700 billion for fiscal year 2014-15. An official source told Customs Today that even Government has yet not replied in this regard but agreed to cut down the revenue target. Top officials from FBR made it clear to the ... Read More »

Post-budget seminar: Experts term revenue target difficult, but achievable

KARACHI: The CPE Committee of the Karachi Tax Bar Association organised a post budget seminar to discuss and deliberate on the possible consequences of the Federal Budget 2014-15. The revenue collection target of Rs2.81 trillion assigned to the Federal Board of Revenue (FBR) for the fiscal year 2014-15 is difficult but achievable, considering projected economic growth, a senior tax official ... Read More »

FBR collects Rs212b against targeted Rs219b in May

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs212 billion in May 2014 against Rs176 billion in the corresponding period last year, reflecting a growth of over 20 percent. As per details, the FBR has provisionally collected Rs212 billion in May 2014 against the monthly target of Rs219 billion, reflecting a shortfall of Rs7 billion. It is to ... Read More »

FBR may miss twice-revised revenue target

ISLAMABAD: The Federal Board of Revenue (FBR) is most likely to miss the twice-revised revenue collection target of Rs2,275 billion by wide margin during the about to end financial year 2013-14. According to reports, the FBR will hardly reach at Rs2,250 billion, or even less, against the revised target of Rs2275 billion by the end of June 2014. The reports ... Read More »