Tax to GDP ratio to be increased by 1 % annually: DarMarch 13, 2014
Islamabad: Finance Minister Ishaq Dar has said the government has embarked upon a plan to increase tax to GDP ratio by one percent annually.
He was addressing Chief Commissioners of Federal Bureau of Revenue Thursday.Our Government has embarked on an ambitious program of annual 1% tax to GDP growth.
The Finance Minister appreciated Chairman FBR and his team for 17.7% growth in tax collection during the past eight month.
He said tax collection in first 8 months of this year is 1348 billion rupees as compared to 1145 billion rupees in the corresponding period of last year.
He said Chief Commissioners and other officers have been selected on merit and are being insulated against external pressures.
The Minister said performance of each Chief Commissioner is being monitored closely.
He urged FBR officials for increased efforts to make the country prosperous in line with vision of Prime Minister Nawaz Sharif.
Ishaq Dar said taxpayers are our clients and we must have a positive and facilitative attitude towards to facilitate them.
The Finance Minister directed FBR for Sales Tax refunds up to half a million rupee within three weeks and refunds from five hundred thousand to a million rupee be cleared by 15th of next month subject to verification and due process. It will benefit around 26‚000 clients of the total 36‚000 refund cases.