Tax Year 2017 return filing sharply increases by 111.55pc: FBR

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ISLAMABAD: The income tax return filing for tax year sharply increased by 111.55 percent up to October 18, 2017 as compared with the same date of last year, Federal Board of Revenue (FBR) said on Friday.
At meeting chaired by Finance Minister Senator Mohammad Ishaq Dar, the chairman of FBR informed that the number of tax returns filed for tax year 2017 as of October 18, 2017 has reached 406,310 as compared to 192,059 filed for tax year 2016, as of October 18, 2016.
Finance Minister asked the FBR officials to keep up the good work.
At the meeting members of Tax Reforms Commission’s (TRC) Implementation Committee, discussing the way forward for further up-gradation of the tax system. Chairman of the TRC Implementation Committee, Special Assistant to the Prime Minister on Revenue, Haroon Akhtar Khan, members of the Committee and senior officers of FBR were present on the occasion.
The minister while appreciating the work of Tax Reforms Commission (TRC) in the form of a very comprehensive report said that it was the resolve of the Government to implement the proposed reforms which led to establishment of Tax Reforms Implementation Committee (TRIC).
This Committee, he said has an important task at hand and its contribution for improvement of the tax system would be highly valued. He said prioritizing recommendations/steps having major impact in terms of revenue collection, facilitation of tax payers and effective management of the tax system, would be an ideal thing to do for effective implementation.
The Committee should also categorize different proposals having immediate, short and long term implications. The minister said the FBR has all along extended valuable support to the TRC as well as the Implementation Committee, and the joint effort, would yield positive results.
Chairman and Members of TRIC thanked the Finance Minister for his support and encouragement in undertaking its work in an effective manner.

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