Govt ready to accept all valid demands of traders: FBR chairman

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi here on Tuesday said that the government was ready to accept all valid demands of the traders, ARY News reported.

Talking to journalists in Islamabad, Shabbar Zaidi said that the condition of Computer National Identity Card (CNIC) for purchase of over Rs50,000 could be relaxed for one month.

He further said that the government was ready to hold negotiation with business community and added that there was no deadlock with the trade associations.

Zaidi reiterated that FBR collected Rs963 billion tax during first quarter of the current fiscal year and added that tax refunds worth Rs75 billion released in the same period.

The FBR chairman said that the import bill reduced by $3 billion in the three months and its effect was around Rs120bn. He said that FBR witnessed revenue shortfall of Rs111 billion in the first quarter.

Read More: ‘Alhumdullilah, FBR achieves 90 per cent of tax collection target’: Shabbar Zaidi

Earlier on September 30, Federal Board of Revenue (FBR) Chairman Shabbar Zaidi had claimed that the board had achieved 90 per cent of the highly aggressive tax collection target for the first quarter of the current fiscal year.

Taking to micro-blogging website Twitter, Zaidi had said,” Alhumdullilah, tax collection upto 90 percent of highly aggressive target for quarter ended September 30, 2019 has been achieved.”

He had said that FBR collected Rs960 billion tax during the first quarter of the ongoing fiscal year. Some more positive adjustment were also expected, the chairman said and added that this amount excluded refunds of past years of Rs15 billion.