ISLAMABAD - Finance Minister Ishaq Dar chaired a meeting on Thursday to review the progress of revenue collection, return filing and awareness campaign undertaken by the Federal Board of Revenue (FBR).

The FBR chairman briefed the minister on revenue collection during the first quarter of FY18. He told the minister that FBR is on-course to achieve the tax revenue target for FY2018. Dar expressed satisfaction over the revenue collection efforts being made by the FBR.

The FBR chairman also briefed the minister regarding the awareness campaign being run by FBR to educate and convince taxpayers to fulfil their legal tax obligations. He said that the campaign has started to translate into results as the number of returns received up to September 28, 2017 has increased to 178,945 compared with 54,086 returns received till the same date in September 2016.

Dar appreciated the successful awareness campaign of FBR and the resulting increase in compliance by taxpayers. During the meeting, it was decided that the period of applicability of reduced rate of 0.4 percent withholding tax on banking transactions for non-filers shall be extended from September 30, 2017 to December 31, 2017. Dar directed the FBR to complete the due process in this regard.