Federal Board of Revenue rewarded its employees up to six ssalaries, sources said. Employees were awarded up to 3 salaries, 4 and 6 salaries.
The honorarium was given to the employees on the basis of performance in aiding the federal government in presenting the current fiscal year’s budget, FBR source told.
Earlier, the FBR chairman had constituted two anomaly committees — Anomaly Committee-Technical and Anomaly Committee-Business — to identify and remove the technical and legal anomalies in the Finance Bill 2021.
The Anomaly Committee-Technical was chaired by Naeem Akhtar Sheikh, UHY Hassan Naeem & Co., whereas the co-chairpersons of the Anomaly Committee-Technical was Ch. Muhammad Tarique, Member (IR-Policy) and Syed Hamid Ali, Member (Customs-Policy) FBR. The other members of the Committee were Mr Ashfaq Tola, Mr Abdul Qadir Memon, Patron Pakistan Tax Bar Karachi, Syed Yawar Ali, Chairman Pakistan Business Council Karachi, Shahzad Hussain, Ex-Partner, AF Ferguson & Co., Mr Khurram Mukhtar, PTEA patron-in-chief, Sadia Nazeer KPMG Partner, Hafiz Muhammad Idrees, Advocate Supreme Court Ex-President Tax Bar, Mr Habib Fakhruddin and Mr Abdul Wahab Kodvavi.
Similarly, Anomaly Committee-Business was chaired by Mr Sultan Ali Allana, HBL chairman, whereas the co-chairpersons of the Anomaly Committee-Business was FBR member (IR-Policy) Ch. Muhammad Tarique and FBR member (Customs-Policy) Syed Hamid Ali.
The other members of the Committee are Ehsan A. Malik Pakistan Business Council CEO, M. Shariq Vohra Karachi Chambers of Commerce and Industry (KCCI) president, Irfan Siddiqui Overseas Investors Chamber of Commerce & Industry (OICCI) president, Sherbaz Ilyas Ghazanfar Bilour Sarhad Chamber president, Abdul Samad Quetta Chamber president, Mian Nasir Hyatt Maggo Federation of Pakistan Chamber of Commerce and Industry (FPCCI) president, Mian Tariq Misbah LCCI president, Adil Bashir APTMA Chairman, Asif Peer American Business Council president, Asad Shah PTC Director External Affairs and Amir Waheed, former president of Islamabad Chamber.
Furthermore, the FBR went over its tax collection target of Rs 4,691 billion for fiscal year 2020-21 and managed to collect Rs 4,725 billion. However, the FBR didn’t manage to meet its initially envisaged tax collection target of Rs4,963 billion for 2020-21, which was revised downward to Rs4,691 billion in line with the International Monetary Fund (IMF) agreement.
Tax collections increased by 18.2 per cent during the Financial Year 2020-21, FBR sources said. Last year, the FBR had collected revenue of Rs3,997 billion.
The FBR made a net collection of Rs555 billion in June 2021 that helped the bureau jack up its overall collection to Rs 4,725 billion by the night of June 30.