FBR earns Rs 654bn tax revenue during July-Dec

ISLAMABAD: Federal Board of Revenue (FBR) has collected a tax revenue of Rs 654 billion during the first six months (July-December) of the current financial year (2010-11), showing an increase of 13.2 percent collection compared with the same period last year.“The FBR has collected Rs 654 billion up to December 31, of the current financial year compared with the total tax collection of Rs 582.176 billion earned during the same period of last fiscal year (2009-10),” Member Direct Taxes (Policy) and spokesman FBR, Asrar Raouf told APP on Wednesday. He said that a total of 29,84,563 National Tax Number (NTN holders (up to 30.6.2010) were supposed to furnish tax returns for TY 2010.However, he said that up to 31.12.2010, 19,65,752 returns were received.He said that there is a gap of 10,18,811 taxpayers who have not filed the tax returns for the tax year (TY) 2010.

Furthermore, 10,122 top markets/ shopping malls analysis shows that only 3,531 persons i.e. 35 percent filed their tax returns for the TY 2010.Asrar Raouf said that the collection from tied-up revenues totaling Rs 121.1 billion at ITAT, High Court an ADRCs level (Rs 83.3 billion income tax+Rs 37.8 billion S.Tax/FED).He said that there are 131,181 registered taxpayers for sale tax whereas the number of enrolled taxpayers is only 99,909, thus there is a still gap of 31,1272 taxpayers who are still not filing their monthly sale tax returns.The FBR spokesman further said that there are only 16,485 withholding tax agents who filed the withholding tax statements on e-portal for the first quarter ending on September, 2010 against 180,086 (companies 44,794, association of persons (AOPs) 1,35,292). This does not include the business individuals 16,45,437 registered till 30 June 2010 having turnover of Rs 50 millio and above – Dailytimes