FBR figure fudging due to wrong input

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Economic Updates - Pak Major Financial News

ISLAMABAD - Federal Board of Revenue (FBR) Chairman Salman Siddique on Wednesday said that figuresí fudging of revenue collection of previous fiscal year 2010-2011 occurred due to the wrong reporting of FBR field officers.
He said this while giving briefing to the Senate Standing Committee on Finance, Economic Affairs and Revenue, which met here under the chair of its chairman Senator Ahmad Ali.
FBR Chairman Salman Siddique gave detailed briefing to the Committee regarding figuresí fudging of previous fiscal year and revenue collection target of the ongoing financial year 2011-2012.

Chairman said that FBR filed officers on June 30 informed that they had collected Rs 81 billion on June 30 but in fact the collections were around Rs 31 billion that became the reason of figures fudging, he added.
He said that all relevant officers involved in wrong reporting were transferred and demoted. On this, the member of the Committee appreciated the FBR chairman for awarding punishment to the officers involved in figures fudging. Salman Siddique assured the Committee that such situation would not be repeated in future.
He informed the Committee that FBR had achieved the 98 per cent revised tax target Rs 1,588 billion during the year 2010-2011. The government originally fixed the tax target at Rs 1667 billion that was later revised due to the unprecedented floods in the country.
Secretary Finance Dr Waqar Masood Khan said that it was a mistake of FBR to announce final figures before compiling it, as FBR must reconcile the data then it was to be publicised.
Talking about the revenue collection target of Rs 1,952 billion set for the ongoing financial year, Salman Siddique said that FBR had collected Rs. 373.8 billion during the first quarter (July-September) of the ongoing financial year against Rs. 293 billion during the same period of last year.
The FBR has exceeded the target of Rs 363 billion by some Rs 10 billion in the first quarter. The Committee was also informed that currently total amount which is pending to be refunded was Rs 55.247 billion while total numbers of refund claims were 46,942. The FBR chairman assured the Committee that the Board would clear those claims within 45 days.
APP adds: Senate Standing Committee directed the Board to take steps to avoid similar situation in future.
The meeting was also attended by Senators Haroon Khan, Syeda Sughra Imam, Dr Safdar Ali Abbasi, Kalsoom Parveen and Islamudin Shaikh.

Courtesy: Nation

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