PM reduces FBR’s tax collection target by Rs113 billion

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has reduced Federal Board of Revenue’s tax collection target for current financial year by Rs113 billion to ensure maximum tax refunds in the month of April 2018, The News learnt reliably.

Well informed sources in FBR confided this correspondent that in 2017-18 budget tax collection of Rs4,013 billion was fixed and FBR was sure to receive this amount by the end of current financial year. But after a detailed discussionsin a meeting chaired by the prime minister and attended by his advisers, Haroon Akhtar Khan and Miftah Ismail, decided to fix a new target tax collection of Rs3,900 billion. When contacted Dr Iqbal, FBR spokesman was not available for comments.