FBR Chairman Vows to Grow Taxpayers Next Fiscal Year
He said the tax revenue target in FY22 could be set at Rs 6,000 billion and preparations in this regard were underway
Federal Board of Revenue (FBR) Chairman Asim Ahmad vowed to increase the number of taxpayers and promote economic activity in next fiscal year. Asim Ahmad has recently taken over as the head of the revenue body with the budget just around the corner.
In a brief interview with News360, he assured that no new tax would be imposed in the upcoming budget for the fiscal year 2021-2022 (FY22).
He added tax revenue target in FY22 could be set at Rs 6,000 billion and preparations in this regard were underway.
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The revenue board chairman said that the revenue target would be met by increasing number of taxpayers and amelioration of administrative affairs.
FBR chairman said following the coronavirus situation, the achievement of tax target would be quite challenging.
No new taxes will be imposed in the budget for the next financial year, he assured.
FBR chairman said even during the ongoing financial year, the tax targets were achieved despite lockdown and it became possible due to reforms in the system.
Lockdown impact on revenue
FBR chairman said lockdown disrupted business activities at large, confessing that the tax target in the ongoing fiscal year was reduced to Rs 4,700 billion from Rs 4,900 billion.
Options for refund
Asim Ahmad told that during the first 10 months of the current fiscal year, FBR paid 65% more tax refunds.
He added the body kept a special focus on income tax refund in FY21 and taxpayers claimed them online, adding that the old system for carrying out the process has been abolished.
