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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…