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| January 28, 2008 | Monday | Muharram 18, 1429 |
FBR chief for action plan to tap tax potential
ISLAMABAD, Jan 27: Federal Board of Revenue (FBR) chairman M. Abdullah Yusuf has called for an action plan to tap tax potential by utilising computerised data available with different institutions and departments in the provinces.
Addressing the 16th National Tax Conference here on Sunday, he urged tax officials to tap full revenue potential existing in various sectors to recover revenue losses occurred due to disturbances last month and gas and electricity shortages which had slowed down business, trade and industrial activities in the country.
Identifying potential revenue areas yet to be tapped, Mr Yusuf, who is also secretary-general of the revenue division, said: “We have to tackle all such issues in a professional manner. Tax managers have to pay special attention to enhance revenue collection from these areas.”
In this connection, he referred the nominal revenue collection on rental income from the properties.
The FBR chairman underlined the need for plugging revenue leakages to improve the collection.
The conference held a comprehensive discussion on withholding taxes and preparation and rechecking of the list of withholding agents.—APP
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