Fawad Chaudhry criticizes FBR formula regarding tax credit

The Federal Minister for Science and Technology Chaudhry Fawad Hussain has criticized the Federal Board of Revenue (FBR) formula regarding tax credit, calling it ‘absurd’.

The statement from the federal minister comes after FBR announced that Sindh remained the highest contributor of taxes (45 percent) during the Tax Year 2018 followed by Punjab with a contribution of 34.99 percent in the Federal Board of Revenue (FBR) taxes during this period.

Chaudhry Fawad Hussain while sharing a screenshot of FBR Tax Directory 2018. in a Tweet said, “FBR formula is absurd Tax credit should go to District where factories are established, Factories in Jhelum contributes Bs to nat exchequer but tax credit goes to Isld/Kar because head offices located there, we suffer environmental n infrastructure hazards bt credit goes to elsewhere”.
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FBR formula is absurd Tax credit shld go to District where factories are established,Factories in Jhelum contributes Bs to nat exchequer but tax credit goes to Isld/Kar because head offices located there,we suffer environmental n infrastructure hazards bt credit goes to elsewhere https://t.co/ZqaoyMW0CF

— Ch Fawad Hussain (@fawadchaudhry) September 19, 2020