The Federal Board of Revenue (FBR) has decided to keep offices open on Saturdays and Sundays- File: Photo
Islamabad: The Federal Board of Revenue (FBR) is concerned about a revenue shortfall of more than Rs. 20 billion during the current month (March), while aiming to achieve targets by ending weekly holidays and keeping FBR and related offices open on Saturdays and Sundays until 4 pm.
According to a circular issued by the FBR, it has been announced that FBR and its related offices and branches of banks will remain open on Saturday, March 30 and Sunday, March 31 until 4 pm so that taxpayers can deposit their tax obligations in banks.
Field formations have been directed by the FBR to establish liaison with branches of relevant banks so that tax liabilities collected from taxpayers on both days can be deposited in the national treasury on the same day to ensure inclusion in March’s tax records.
The FBR sources say that the revenue target for tax collections for the current month (March) by the Federal Board of Revenue was set at Rs. 879 billion, while Rs. 835 billion was collected by March 29, which is Rs. 44 billion less than the set target.
They said that the FBR also aims to collect Rs. 879 billion in tax collections in March with the IMF, while the revenue target for the first nine months of the current fiscal year 2023-24 (July to March 2023-24) is Rs. 6.707 trillion and so far Rs. 6.666 trillion has been collected.
The FBR has announced keeping offices and banks open on Saturdays and Sundays to collect taxes because there is a possibility of meeting the set target.