ایف بی آر نے تمام اہداف حاصل کر لئے: عمران خان

[arifkarim]

https://twitter.com/x/status/1377261333880655876 https://twitter.com/x/status/1377251928598536194

 

[Digital_Pakistani]

https://twitter.com/x/status/1377204498091884545

 

[miafridi]

FBR Achieves Historic Growth in Revenues​

The Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the month of March 2021.

The net collection for the month of March was Rs. 475 billion, against a required increase of Rs. 367 billion, representing an increase of 46% over Rs. 325 billion collected in March 2020 and 129% of the target. The year-on-year growth of 46% is unprecedented. These figures would further improve before the close of the day and after book adjustments have been taken into account.

According to the provisional information, FBR has collected net revenue of Rs.3394 billion during the July-March period, which has exceeded the target of Rs. 3287 billion by more than Rs.100 billion. This represents a growth of about 10% over the collection of Rs. 3076 billion during the same period last year.

On the other hand, the gross collections increased from Rs. 3178 billion during this period last year to Rs. 3571 billion this year, showing an increase of 13%. The number of refunds disbursed was Rs. 177 billion compared to Rs. 102 billion paid last year, showing an increase of 74%. This is reflective of FBR’s resolve to fast-track refunds to prevent liquidity shortages in the industry.

The improved revenue performance is a reflection of growing economic activities in the country despite facing the challenge of the third wave of COVID-19. During April-June 2021, it is expected that this revenue performance would be improved substantially compared to 2020 when economic activities were disrupted due to COVID.

https://propakistani.pk/2021/03/31/fbr-achieves-historic-growth-in-revenues/

 

[GreenMaple]

Good job by FBR. This should help government's financial woes.

 

[Kam]

Good job by FBR. This should help government's financial woes.

We need at least 2000 billions more to overcome excessive debt payment and put a stop on inflation.
FBR current revenue is not sufficient.
FBR must understand that this is our country and we are nowhere to go.
For security and prosperity of our country, FBR must increase it's revenue and collect taxes as per true potential.

 

[GreenMaple]

We need at least 2000 billions more to overcome excessive debt payment and put a stop on inflation.
FBR current revenue is not sufficient.
FBR must understand that this is our country and we are nowhere to go.
For security and prosperity of our country, FBR must increase it's revenue and collect taxes as per true potential.

We still have long way to go. More automation and computerized tax collection system is the future.

 

[Hate_Nooras]

No doubt an improvement but for a country our size its appalling. It should be 10* this amount.

 

[Okara]

miafridi Sahib
If we convert Rs3187B of last year to March 30, 2020, the result is USD19.2B. If our loan was USD220B and if we calculate Payments based on Ishaq Dar Interest Rate, the payment is USD11B per year. Can we run country on USD8.2B per year?
Now if we talk about current fiscal year, Rs3571B are USD23.1B. Again if loan is USD230B the annual payments will be USD11.5B.
This means we have USD11.6B to run government. Lets assume Fed government is not giving any money to provincial government still USD11.6B is not enough to run a country like Pakistan.

 

[Kam]

miafridi Sahib
If we convert Rs3187B of last year to March 30, 2020, the result is USD19.2B. If our loan was USD220B and if we calculate Payments based on Ishaq Dar Interest Rate, the payment is USD11B per year. Can we run country on USD8.2B per year?
Now if we talk about current fiscal year, Rs3571B are USD23.1B. Again if loan is USD230B the annual payments will be USD11.5B.
This means we have USD11.6B to run government. Lets assume Fed government is not giving any money to provincial government still USD11.6B is not enough to run a country like Pakistan.

Someone of us above mentioned that we need to move towards automation.
We need to find a way to collect more taxes and close the loop holes.
Smuggling is a big hurdle towards revenue. We need to catch and burn all smuggled items.

 

[Okara]

Someone of us above mentioned that we need to move towards automation.
We need to find a way to collect more taxes and close the loop holes.
Smuggling is a big hurdle towards revenue. We need to catch and burn all smuggled items.

For a country of 220m people we need automation for sure but even that'll fail if no will.
During 1996 Pakistan railway started a computerized reservations but in 6 months this system was destroyed and went back to porters to do reservations in Pakistan Railway

 

[CANSUK]

For a country of 220m people we need automation for sure but even that'll fail if no will.
During 1996 Pakistan railway started a computerized reservations but in 6 months this system was destroyed and went back to porters to do reservations in Pakistan Railway

Right, Railway headquarters was the first I think....
Corrupt mind set of the nation destroying us as well.

 

[Kam]

Right, Railway headquarters was the first I think....
Corrupt mind set of the nation destroying us as well.

This was due to mismanagement. Our officers lobby is involved.
To keep system running and free of corruption, officers are there to stop this.
But yahan kutti hi choran nal ral jandi e

 

[CANSUK]

This was due to mismanagement. Our officers lobby is involved.
To keep system running and free of corruption, officers are there to stop this.
But yahan kutti hi choran nal ral jandi e

Our officers lobby or corrupt management is also part of our nation. I was trying to point out the corrupt behaviour or upbringing of the nation specifically during Nawazardari regime.

 

[arafay]

Most of this tax is collected at source eg. general sales tax, petroleum levy etc. by various withholding agents like corporations, customs, oil marketing companies etc.

If all FBR staff is fired today, all of this tax will be collected next year as well. Question arises that apart from collecting salaries, what is FBR staff actually doing 365 days a year?

 

[Shahid Abassi]

I am happy too that the FBR is meeting its targets but I don't think, their performance is satisfactory at all. You need to look at the break-up of this collection.

(1) The tax collection which involves FBR efforts the most, is the income tax. And the income tax collections have been lesser than the last year.
.
(2) The GST is about half of the total collections. The GST is paid at the source and FBR does not do much effort to collect it. The GST is imposed on prices and when the prices go up, the GST collection follows the trend. It means if the prices have gone up by 30 % in the last 2½-3 years, the GST should have automatically increased by the same percentage.
.
(3) Other revenues come from custom and excise duty. As the imports have increased by 8.50% compared to the same period in the last year, these two also have to follow the suit and increase by about 8%.
.
(4) Lastly, the government had raised GST on some products, and that has an impact too.
.
All in all, the FBR should be mainly judged on their income-tax collections, and on this post, it has not done very well.

 

[Okara]

Right, Railway headquarters was the first I think....
Corrupt mind set of the nation destroying us as well.

I used to book from Karachi

 

[bigfootyetee]

kab tak jhoot?

 

[Hate_Nooras]

I am happy too that the FBR is meeting its targets but I don't think, their performance is satisfactory at all. You need to look at the break-up of this collection.

(1) The tax collection which involves FBR efforts the most, is the income tax. And the income tax collections have been lesser than the last year.
.
(2) The GST is about half of the total collections. The GST is paid at the source and FBR does not do much effort to collect it. The GST is imposed on prices and when the prices go up, the GST collection follows the trend. It means if the prices have gone up by 30 % in the last 2½-3 years, the GST should have automatically increased by the same percentage.
.
(3) Other revenues come from custom and excise duty. As the imports have increased by 8.50% compared to the same period in the last year, these two also have to follow the suit and increase by about 8%.
.
(4) Lastly, the government had raised GST on some products, and that has an impact too.
.
All in all, the FBR should be mainly judged on their income-tax collections, and on this post, it has not done very well.

It's still not fit for purpose.