Islamabad, Sep 23: The Federal Board of Revenue (FBR) is facing significant challenges in meeting its monthly revenue targets, having achieved only 43% of the goal in the first 18 days of the month.
In response, the FBR has issued a letter to the Chief Commissioner of the Corporate Regional Tax Office, expressing concerns about the slow pace of revenue collection and emphasizing the need for enhanced efforts, particularly in the first quarter of the financial year.
The FBR has directed the Corporate Regional Tax Office to prioritize the recovery of outstanding taxes and ensure the timely filing of monthly sales tax returns. Additionally, there is a strong emphasis on monitoring withholding agents to prevent tax evasion.
The FBR is urging all its offices to intensify their efforts to address these revenue collection challenges.
In a related note, the FBR has warned citizens about the upcoming deadline for income tax return filings, stressing that no extensions will be granted.
Taxpayers are urged to submit their returns by September 30, 2024, to foster a culture of tax compliance vital for economic stability. The FBR has indicated that failure to file returns could result in disconnection of electricity and gas services, as well as blocking of mobile SIMs for non-compliant individuals.
