Wednesday, October 5, 2022

Miftah Ismail appreciates the PTI govt efforts to collect tax

PTI administration’s tax collection efforts have been appreciated by Finance Minister Miftah Ismail, who said that the Federal Board of Revenue (FBR) data indicated net revenues of Rs4,858 billion during the first 10 months of the current fiscal year.

“FBR has received Rs 5122 billion in the current fiscal year (July 21-April 22), up from Rs 3981 billion during the previous fiscal year (July 20-April 21), marking a 28.7 percent increase,” Miftah Ismail stated on Twitter.  Refunds totaling Rs 264 billion were granted between July 21 and April 22, a 30.1 percent increase over the previous year’s total of Rs 203 billion. The FBR team is deserving of recognition.”

“However, an important reason for the increase was the increase in imports,” he continued. For example, sales tax at the point of importation increased by 58 percent while it decreased by 2 percent for locally produced goods. I am confident that with the appropriate combination of policies and instruments, this team will do even better and meet or exceed the aspirations of the nation.”

On the other side, the current government, led by Prime Minister Shehbaz Sharif, immediately ousted the chairman of the FBR from the Imran Khan era upon taking office.

Shaukat Tarin, a former Finance Minister, responded to Ismail’s tweet by saying that he should not remove the former head of the FBR if the institution has functioned successfully.

Prior to it, in April, the federal government appointed Muhammad Asim Ahmad to serve as the Chairman of the Federal Board of Revenue  (FBR). Dr. Ashfaq Ahmed replaced him.

Read Also: Asim Ahmad appointed new Chairman of FBR

Asim Ahmad works as a Grade 21 officer for the FBR Inland Revenue Service (IRS). He had previously served as Chairman of the FBR from 9 April to 24 August 2021, when he was succeeded by Dr. Ashfaq Ahmed as the institution’s leader. He also had the added responsibility of being a member of the FBR’s information technology (IT) department.

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