Federal Finance Minister Ishaq Dar earlier today said that only companies will be issued National Tax Numbers (NTN) from now onwards while the Computerised National Identity Card (CNIC) numbers will be treated as tax numbers for individuals.
While addressing the National Assembly today, Dar said that a shortfall of Rs 196 billion in revenue collection is expected this year and the government has taken measures to reduce it by Rs 46 billion by imposing additional tax.
The minister added that the increase in GST on petroleum products and a change in other taxes was imperative to meet various needs including release of funds to the provinces from the devisable pool. He also said that expenditures in the wake of Zarb-e-Azb operation cannot be ignored, as well as factors such as debt servicing and payment of salaries.
He went on to say that the government has lowered the revenue collection target to Rs. 2691 billion from Rs. 2810 billion.
