FBR Chairman expects decrease in tax collections.

ISLAMABAD -- Federal Board of Revenue (FBR) Chairman Asim Ahmed Tuesday expected a decrease in tax collections in upcoming months due to the current situation.

The FBR chairman briefed the National Assembly's Standing Committee for Finance on tax collections in a meeting chaired by Qaiser Sheikh. The FBR chairman told the committee that there may be difficulties in tax collections in the coming months but no new taxes are currently proposed and they are trying to increase tax collections administratively.

Asim informed the committee that the International Monitory Fund (IMF) was satisfied with the performance of tax collections and further negotiations were ongoing. He said the income tax target has been achieved while the tax revenue has increased 16.6 percent this year but the target of sales tax and customs duty could not be met.

FRB Chairman...