ISLAMABAD    -   Federal Board of Revenue chairman Shabbar Zaidi on Friday said that FBR would launch aggressive campaign from October 15, 2019 to get industrial and commercial consumers registered for income tax. “All industrial and commercial consumers are necessarily required to be registered for income tax purposes. FBR had been using persuasive modus operandi to get that registration,” chairman FBR said on his social media account. To achieve the desired objective, he said that aggressive campaign will be launched from October 15, 2015.

Another official said that FBR had given an opportunity to non-taxpayers to file their income tax returns by extending the deadline for one month. The FBR has received as many as 438,564 returns until Sept 30 as against 408,381 returns received over the corresponding month last year, showing an increase of 7.4 percent. The FBR has set a target of 5 million returns in the current fiscal year. He informed that FBR would target the big retailers located in shopping malls, retail chains and stores having 1,000 square feet. The FBR will notify new rules for registration and taxation of big retailers to restore confidence of the small retailers and shopkeepers. The new documentation policy would focus from registration of big retailers to medium-sized retailers in a systematic manner.

The official added that FBR has no plan to bring mini budget to meet the shortfall in tax collection that occurred in first quarter (July to September) of the current fiscal year. Federal Board of Revenue (FBR) has provisionally collected over Rs960 billion during the first quarter (July-September) of 2019-20 against quarterly target of Rs 1,071 billion, reflecting a shortfall of Rs 111 billion. According to a tweet of Chairman FBR Shabbar Zaidi , tax collection up to 90 percent of highly aggressive target for quarter ended September 30, 2019 has been achieved. Collection is Rs 960 billion. Some more positive adjustment is expected. Furthermore this amount excludes refunds of past years of 15 billion.

“The domestic tax collection increased by 25 percent. The import contraction is around US$3 billion. The effect of that is around 125 billion. This shows that target has been met.