Government fails to meet revenue target

 

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14/11/01  ISLAMABAD – Federal Bureau of Revenue (FBR) issued year book 2013-14. According to the report, previous fiscal year witnessed 4% growth in development and tax collection remained Rs 209 billion short of target. According to FBR, tax collection for the previous year was Rs 2266 billion whereas the set target was Rs 2475 billion with a difference of Rs 209 billion from the target.

Tax revenue target had changed thrice over a year but to no success. The tax revenue though has increased by 16% from the fiscal year 2012-13.

Rs 884 billion were collected in the terms of direct taxes whereas Rs 1382 was collected in the wake of direct taxes. A 4% rise in development growth is the economy’s highest since 2008-09.