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Ishaq Dar for Paying Taxes as National Duty

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Posted by on Wednesday, April 16, 2014, 12:19
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Ishaq Dar

Ishaq Dar

Federal Minister for Finance, Senator Mohammad Ishaq Dar, Tuesday urged that taxes should be paid as a national duty, news reported. “For the socio-economic prosperity of the country, paying taxes, that too honestly, is imperative”, said he addressing the Tax collectors conference here at Federal Board of Revenue (FBR) House.

He stressed that all undertaking all the public development projects hinged upon the optimum tax collection.

The finance minister told the attendees that tax collection for July-March 2013-14 (9 months) was recorded at Rs 1,574 billion representing an increase of 16.4% compared to Rs 1,352 billion collected in the same period last fiscal year.

Going forward, he also called upon the tax collectors to rev up efforts for revenue collection.

Dar said the appreciation as well as the stability of the rupee would give imports a boost, which would subsequently lead to higher collection.

Dar advised the taxmen that in order to meet the revised collection target of Rs2345 billion, about Rs257 billion would have to be collected per month until June.

“While we are controlling the yawning current account deficit, the FBR has to work even harder to narrow the fiscal deficit”, the minister said.

Senator Dar also urged the taxpayers to exploit prime minister’s tax incentives, which could be availed until April 30.

“We kept our pledge for publishing “Parliamentarians’ Tax Directory” and today we are fulfilling the promise to bring out General Tax Directory, which would be posted on FBR website by Tuesday evening”, he remarked.

Concluding his address, the finance minister expressed the determination of increasing tax-to-GDP ratio to up to 13% within a span of 3 years.

In order to achieve that, he said provinces also have to play a proactive role rather than relying on federal grants.

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