{"id":6482,"date":"2021-02-21T10:36:02","date_gmt":"2021-02-21T10:36:02","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=6482"},"modified":"2021-02-21T10:36:05","modified_gmt":"2021-02-21T10:36:05","slug":"fbr-to-add-100s-of-billions-of-additional-revenue-by-july-hopes-pm","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/pakistan-news\/fbr-to-add-100s-of-billions-of-additional-revenue-by-july-hopes-pm\/","title":{"rendered":"FBR to add 100s of billions of additional revenue by July, hopes PM"},"content":{"rendered":"\n<p>ISLAMABAD\u00a0\u00a0 &#8211;\u00a0 Prime Minister Imran Khan on Friday commended FBR Field Formations on achieving the 7-month revenue\u00a0targets\u00a0by undertaking bold tax audit and enforcement, and counter-smuggling measures.<\/p>\n\n\n\n<p>In a tweet, the Prime Minister said they must continue working with honesty and commitment. He also commended the FBR head office team for developing the IT-enabled Transformation Plan and procuring cutting-edge Track and Trace System.&nbsp;<\/p>\n\n\n\n<p>He said once fully functional in July 2021, it would add 100s of billions of additional revenue, curb counterfeiting and help establish rule of law.<\/p>\n\n\n\n<p>Earlier this month, the FBR had claimed that the tax reforms introduced by it have started paying dividends.<\/p>\n\n\n\n<p>The country\u2019s premier tax collection agency said that it has gathered data from different utility agencies and other departments to have a 360-degree view of taxpayers.<\/p>\n\n\n\n<p>FBR said its reforms focused on facilitating taxpayers, reducing human interaction, simplification of tax statutes and tax filing procedures through automation, integrity management, enforcement of tax code and policy measures to boost revenue and promote exports through an increase in business activity, speedy payment of refunds and drawbacks and better service delivery.&nbsp;<\/p>\n\n\n\n<p>The tax regulator stated that it exceeded its seven-month revenue target for the ongoing FY 2020-21 by collecting Rs 2,570 billion against the target of Rs 2,550 billion because of the reforms. The body said that it was able to collect the amount even though it has issued 80% more refunds in comparison with the same period of the last financial year. The move has helped the business community in reducing the cost of doing business and providing working capital for investment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD\u00a0\u00a0 &#8211;\u00a0 Prime Minister Imran Khan on Friday commended FBR Field Formations on achieving the 7-month revenue\u00a0targets\u00a0by undertaking bold tax audit and enforcement, and counter-smuggling measures. In a tweet, the Prime Minister said they must continue working with honesty and commitment. He also commended the [&#8230;]<\/p>\n<p>\n","protected":false},"author":2,"featured_media":6483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[4703,1146,4704],"class_list":["post-6482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news","tag-additional-revenue","tag-fbr","tag-hopes-pm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR to add 100s of billions of additional revenue by July, hopes PM<\/title>\n<meta name=\"description\" content=\"FBR to add 100s of billions of additional revenue by July, hopes PM\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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