LAHORE: Punjab has collected highest-ever sales tax on services during the month of August comparing to the corresponding period.
According to the provisional figures, the Punjab Revenue Authority has collected Rs.10.3 billion during August 2021 compared to Rs.8.7 billion in August 2020. Thus the total collection for the first two months of the financial year is Rs.20.8 billion, which is 19% more than the 17.5 billion collected during the same period last year.
It may be noted that this is the highest ever collection for the month of August by the Punjab and augurs well for the chances of achieving its assigned revenue target of Rs.155.9 billion for 2021-22.
The Authority has already succeeded in surpassing its revenue targets for 2019-20 and 2020-21 and is on track for completing a hat-trick of achieving its targets, an unprecedented feat for any revenue authority of the country.
The Authority’s spokesperson said that it is intended to continue the policy of the Government of collaboration with stakeholders, avoidance of coercive measures and creating an atmosphere of facilitation, treating taxpayers as partners of the government.
The Authority has always relied on automation and minimum human interface and is currently striving towards complete automation of workflow and creation of an integrate database.
These measures, the spokesperson added, would enable the Authority to broaden its tax base, create ease of paying taxes and detect tax evasion in a much more efficient manner.
Copyright Business Recorder, 2021
Comments
Comments are closed.