Govt misses tax collection target this year
ISLAMABAD: The government failed to meet tax collection target in the ongoing fiscal year 2013-14, ARY News reported Monday.
Tax collection target for 2013-14 was Rs 2.27 trillion, however the Federal Board of Revenue could collect Rs 1.745 trillion in 10 months.
This year’s tax collection was 15% more as compare to last fiscal year. Yet, the tax-to-GDP ratio was decreased in the current year.
The government has pitched the tax collection target of Rs 2.8 trillion in the next fiscal year, with registration of new tax payers and end to tax exemption policies to ensure targeted tax collection.