The tax authorities have discussed threadbare the revenue reporting system with all senior tax officials of the Board engaged in this exercise. It was also being debated how the field formations had mistakenly reported gross revenue collection figure of Rs 1590 billion instead of actual net collection of Rs 1550 billion for 2010-11.
It has been further learnt that the shortfall of sales tax and income tax could have been around Rs 50 billion against Rs 38 billion during 2010-2011 in case the tax machinery had not achieved the assigned target in the heads of customs duty and federal excise duty.
The net revenue collection of the FBR stood at Rs 1550 billion for 2010-2011 against the annual target of Rs 1588 billion, reflecting a shortfall of Rs 38 billion. So far, the FBR has not yet issued the final revenue collection chart for 2010-2011 to clearly indicate tax-wise refund payments.
In the monthly chart of revenue collection, the gross and net figures of collection are separately mentioned and refund paid against sales tax collected at the import stage and domestic consumption are also specified. In the absence of final revenue collection chart, the actual figure of sales tax refund paid to the exporters during 2010-2011 remains unclear. Sources added that a disciplinary action is also under way against the customs officials involved in ISAF containers scam and FIRs are expected to be lodged against the involved officials.