‘The condition of CNIC will never be withdrawn’, Shabbar Zaidi clarifies
Shabbar told the media sources that FBR collected Rs963 billion in taxes during the first quarter of the ongoing fiscal year.
Shabbar Zaidi says that the government is ready to facilitate traders and accept their legal and valid demands.
But the condition will ‘never be withdrawn’.
Fixed taxation for real estate developers to be introduced soon.
The Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi says that the government is ready to facilitate traders and accept their legal and valid demands. However, speaking to media sources, Shabbar Zaidi said that the condition of computerized national identity card (CNIC) for the purchases over Rs. 50,000 can only be relaxed for one month. But the condition will ‘never be withdrawn’.
Further speaking on the matter, he said that the government is willing and ready to hold negotiations with the business community. There is no deadlock with the trade associations, he clarified.
Shabbar told the media sources that FBR collected Rs963 billion in taxes during the first quarter of the ongoing fiscal year. Rs75 billion tax refunds have also were released in the same period, he added.
The FBR chairman further spoke on the progress of the department. He said that Pakistan’s import bill has been reduced by $3 billion within three months. The amount has an overall impact of Rs120 billion. FBR also witness a revenue shortfall of Rs. 111 billion in the first quarter.
Fixed tax to be introduced:
Shabbar Zaidi added that they are also looking forward to introducing new systems, like fixed taxation for real estate developers. He also claimed that FBR has achieved 90 percent of its highly aggressive, highly ambitious tax collection target for the current financial year.
“Alhumdullilah, tax collection up to 90 percent of the highly aggressive target for the quarter ended September 30, 2019, has been achieved,” he previously tweeted.
FBR has collected Rs. 960 billion tax during the first quarter of the ongoing financial year. The mentioned amount excluded refunds of past years of Rs15 billion, Zaidi added.
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