ISLAMABAD: Federal Board of Revenue (FBR) on Friday informed Senator Mohammad Ishaq Dar, Minister for Finance that the tax collections shows 25 percent increase in December.
“On December 20, 2012 the revenue collected was Rs 91.5 billion whereas an amount of Rs 114 billion has been collected in the corresponding period this year showing an increase of
25 percent, Chairman FBR, Tariq Bajwa informed the Minister in a meeting here.
The meeting was held to review the implementation and progress made so far on the reforms and economic targets set by the PML-N Government.
Chairman FBR, Tariq Bajwa informed the Finance Minister that the number of tax returns filed this year were 814,981 as compared to 744,866 last year.
He also informed the Finance Minister that the necessary Statutory Revision Orders (SROs) relating to the incentives scheme announced by Prime Minister Nawaz Sharif have been
Dr Waqar Masood, Secretary Finance gave an update on the austerity measures and savings made to date.
Advisor to Finance Ministry, Rana Asad Amin briefed the Finance Minister on the progress made so far on the issue of sovereign bonds, efforts being made to streamline and increase remittances and that the foreign exchange reserves are likely to improve which will have a favourable impact on the value of rupee.
The Finance Minister directed the Commerce Ministry to ensure that the recent concession of GSP plus by the European Union is utilized optimally and the exporters are facilitated and
provided all necessary assistance in this regard.
The Finance Minister expressed satisfaction over the pace of implementation of reforms and urged the officials to redouble their efforts to achieve the targets.