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Fawad Chaudhry criticizes FBR formula regarding tax credit

The FBR conducted province-wise Tax Directory analysis for year-ended June 30th, 2018 (returns filed up to September 14, 2020) based on income tax.

Chaudhry Fawad Hussain Chaudhry Fawad Hussain - OyeYeah News

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”.
Read More : First batch of made in Pakistan ventilators is ready: Fawad Chaudhry

the authorSaman Siddiqui
Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.