ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 11.854 billion under the head of Worker’s Welfare Fund/Worker’s Profit Participatory Fund in 2023-24 as compared to Rs 10.105 billion, reflecting an increase of 17.3 percent. The FBR’s data revealed that the Capital Value Tax collection amounted to Rs 56.108 billion in 2023-24 as compared to Rs 50.346 billion in 2022-23, showing an increase of 11.4 percent. According to the FBR’s data, total collection under other heads of the direct taxes totalled at Rs 67.962 billion during 2023-24 against Rs 60.451 billion, reflecting an increase of 12.4 percent. In January 2023, FBR has already segregated the Workers Welfare Fund (WWF) from other taxes being collected by the board. Last year, the FBR had issued a clarification on the directions of the Federal Tax Ombudsman (FTO): (I) Record of all refunds of WWF and WWPF need to be separately maintained by IR field formations. While furnishing final MPR for the month of June of each FY, IR field formations must reflect the overall refund amount of WWF, if any, paid by them during the year. ii) This overall amount of refund of WWF communicated IR field formations must be separately summed up by Secretary Revenue Budget, IR, FBR. (iii) The aforesaid accumulative amount of refunds of a non tax levy/WWF paid from revenue collection need to be adjusted at the time of final yearly adjustment of Federal Accounts. (iv) In a decisions this office (FTO) has already held that any liability of WWF cannot be adjusted against determined tax refund because only…