ISLAMABAD:
The Federal Board of Revenue (FBR) has allegedly overstated collection figures for the recently-concluded fiscal year by Rs7 billion, besides blocking billions of rupees in refunds as it desperately seeks to come close to its three-time downward revised target, local media sources reported.
As against the FBR’s claim that it collected Rs2.588 trillion during fiscal year 2014-15 that ended on June 30, the State Bank of Pakistan has confirmed Rs2.581 trillion as the revenue to the federal government, said a senior official. This has created a hole of Rs7 billion, reportedly.
The FBR’s original target was Rs2.810 trillion, which was subsequently revised to Rs2.605 trillion. This goalpost was also missed despite levying Rs360 billion in additional taxes.
An official of the FBR insisted that the difference was on account of book adjustments, as the central bank has not taken into account the revenues under this head.
