ISLAMABAD: The federal minister for finance Ishaq Dar said on Thursday the federal government has embarked on an ambitious programme of annual one percent tax to the gross domestic product (GDP) growth.
In his address to the Chief Commissioners Conference at the Federal Board of Revenue (FBR) in Islamabad on Thursday, the finance minister urged the FBR to expedite its efforts for enhancing tax to GDP ratio from existing nine percent as with this ratio Pakistan ranks one of the lowest tax collecting countries.
The finance minister appreciated Chairman FBR and his team for 17.7 percent growth in tax collection during last eight months, saying tax collection in first eight months of this year was Rs 1,348 billion as compared to Rs 1,145 billion in corresponding period of last year.
Dar said that Chief Commissioners and other officers have been selected on merit and are being isolated from any external pressures and performance of each Chief Commissioner was being monitored closely.
Ishaq Dar also urged FBR officials for increased efforts to make Pakistan prosperous country in line with vision of the Prime Minister Nawaz Sharif.
The minister directed the FBR for clearing Sales Tax refunds upto Rs 500,000 within three weeks and refunds from Rs 500,000-100,000 should be cleared by April 15 subject to verification and due process. He said that it would benefit around 26,000 clients of the total 36,000 refund cases.
