Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langriyal on Saturday vowed to collect Rs 13,500 billion in tax revenue this year despite facing a shortfall in the first half of the current financial year. .
The FBR faced a significant tax shortfall of Rs 386 billion from July to December The News. Revenue collection in the first six months of the current financial year was Rs 5,623 billion, which is less than the target of Rs 6,009 billion.
The IMF had indicated Rs 6,009 billion by the end of December 2024, but the FBR received a net collection of Rs 5,623 billion during the first six months of the current fiscal.
Addressing an event today, the FBR chief criticized the culture of tax evasion in the country, saying that those who suggest fixing the system later turn out to be tax evaders.
Addressing a function, Chairman FBR said that those who are responsible for paying taxes are not fulfilling their responsibilities properly.
He said that there were problems with both taxpayers and collectors, adding that the tax rates in the country were not correct.
He added that the tax rates in Pakistan are wrong and should be fixed.
The chairman said that the tax system is designed to bring the top 5 percent of the rich into the tax net. He vowed to collect a revenue of Rs 13,500 billion this year.
In response to a question, Chairman FBR said that Pakistan does not belong to overtaxed countries.
Langriyal added that they were neither paying full taxes nor getting full services in return.
The salaried class is included in the tax net because the authorities concerned have failed to collect tax from the rich people.
The FBR chief said the government was aware that tax rates on certain items should be reduced.
He said that the government will introduce a new law that will make it difficult for non-filers to buy.
More than 0.4 million retailers were included in the tax net this year, he said, adding that the retailers are yet to disclose their monthly income. He also emphasized the need to stop smuggling of petroleum products.