ISLAMABAD: Federal Council of Revenue (FBR) to brief Prime Minister Shehbaz Sharif on upcoming mini budget on Tuesday.
In this regard, referring to the eighth computer vote on POS Prize Scheme, FBR Administrator Member Dr. Faiz Illahi Memon also said the FBR would give presentation to Prime Minister Shahbaz Shairf on August 16 on General strategy for in achievement of purpose of revenue collection of 7.4 trillion rupees for 2022–23 (FY23).
Sources say the FBR has almost completed its work. work related to this issue, while the mini budget and the decision will be submitted within next several days. They said that government have a plan to increase regulatory responsibilities on items on which the government the ban was recently lifted.
“It is estimated that FBR will raise Rs 15 billion through the increase in RD. on on these 83 tariff lines,” the sources said, adding that government will also increase taxes on tobacco and cigarettes beyond the introduction of SWAP system in withholding tax payments.
Administrator Member of The Internal Revenue Service said the FBR will provide the prime minister with a detailed roadmap regarding inland revenue and customs. for in new fiscal year for documentation of in the economyreform and achieve the goal of revenue collection.
He stated that 6100 Tier-I retailers have been integrated with FBR and FBR try their level best document retailers according to the specified scheme during last eight months.
He said FBR facing logistics and personnel issues in law enforcement of POS system but number of confirmed accounts is growing day by day.
According to an FBI handout, the FBI held its 8th computerized vote. of its flagship initiative of Dot of Sale (POS) Invoicing Scheme at FBR Islamabad. BUT total of 1017 people received 54 million rupees. lucky draw of winners during the ceremony.
It is pertinent to note that the federal government has approved a point-of-sale billing scheme. in Finance Bill 2021 in in order to motivate general public as well as business community carry out their duty as responsible taxpayers. Until this eighth round, seven computerized ballots of POS prize there is a diagram already was successfully organized by the FBR is year. This coverage campaign look after taxpayers and senior management retailers began to pay dividends, as evidenced by fact what number of the number of confirmed invoices has steadily increased.
outside of Rs 54 million, Rs 1 million was contributed by Metro Pakistan who gave Rs 100,000 each. for 10 winners.
