Finance Minister reviews progress of revenue collection, return filing

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APP27-28 LAHORE: September 28 – Finance Minister, Senator Mohammad Ishaq Dar chairing a meeting of Senior FBR and Finance Division Officials. APP

ISLAMABAD, Sep 28 (APP): Minister for Finance, Revenue and Economic
Affairs, Senator Muhammad Ishaq Dar chaired a meeting on Thursday at the
Ministry of Finance to review the progress of revenue collection, return filing and
awareness campaign undertaken by the Federal Board of Revenue (FBR).
Chairman FBR, senior Members of FBR, and senior officials of the
ministry of finance were present in the meeting.
Chairman FBR briefed the finance minister on revenue collection in the
month of September 2017 and the first quarter of FY 2018, i.e. July-September
2017. He apprised the minister of that FBR is on-course to achieve the tax
revenue target for FY 2018. The finance minister expressed satisfaction over the
revenue collection efforts being made by FBR.
Chairman FBR also briefed the finance 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 had started to translate into results as the
number of returns received upto September 28, 2017 had increased to 178,945
compared with 54,086 returns received till the same date in September 2016.
The finance minister 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% withholding tax on banking transactions for non-filers shall
be extended from September 30, 2017 to December 31, 2017.
The finance minister directed FBR to complete the due process in this
regard.