ISLAMABAD - Tax authorities are not prepared to bring mini-budget by raising tax rates and extend its scope to other untaxed sectors, but they are expecting to increase the revenue only by introducing reforms and improving the audit system, a senior tax official informed TheNation on Wednesday. He said, "Although we have to collect an uphill revenue target of Rs 816 billion in the second part (Jan-June) of the current financial year and the tax revenue could be increased through improved auditing system and bringing reforms in the tax system. Imposition of new taxes or increasing the rates is not on our priority agenda." IMF approved amount of $ 7.6 billion recently under Standby Arrangement, signed by Pakistan and IMF. The fund has attached some tough terms with the agreement, including achieving tax revenue target of Rs 1.36 trillion and increasing the tax to 15 per cent to the GDP ratio. The authorities are confident to take the tax to GDP ratio around 10 per cent during the current fiscal 2008-09 but the target of 15 per cent could take some time. "We are hopeful to surpass the said target in the next 3 to 4 years," the official, requested anonymity, said. FBR has collected only around Rs 543b in the first half (July-Dec) of the present fiscal year, which is considerably less than its expectations mainly due to constantly decline in the prices of oil and food items in the international as well as domestic market. The domestic and the international economic recession have became hurdle in the way of tax collection target for the first part (July-December) of the current financial year which are not met in line with the Pak-IMF understanding and FBR collected only Rs 543 billion, far below the target. Official spokesman of the FBR, Mahmood Alam, while Talking to TheNation the other day told that they were on the right track of revenue target and through auditing firms the and improving tax system the required target would easily be achieved. Answering a question whether the FBR could collect Rs 816 billion in the second half of the financial year, he said that tax authorities always collected more revenue in the second half as compared to the first half, so we are likely to meet the annual target. He further said that for the last few years, the process of audit was halted and many taxpayers escaped the net but FBR once again has started auditing the firms to increase the revenue.