The Regional Tax Office (RTO), Lahore has recorded an increment in its revenue (collection of income tax, sales tax and federal excise) up to the month of January, 2010 over the last year. According to a spokesman of the RTO, during last year, collection in income tax was recorded at Rs 21,734 million whereas collection up to January 2010 is made to the tune of Rs 23,600 million.
This shows an increment of Rs 1, 866 million ie 9 percent increment over the last year's collection. Moreover, collection under Sales Tax and Federal Excise, after the merger of Domestic Taxes as Inland Revenue has also shown increment over the last year for the same period.
Sales Tax collection up to January 2009 was at Rs 5,891 million whereas this collection up to January 2010 stands at Rs 6,653 million, showing an increment of 13 percent. Federal Excise collection up to January 2009 was Rs 562 million whereas this collection up to January 2010 stands at Rs 604 million thus showing an increment of 7 percent.
A comparison of aggregate figure of Rs 30,857 million for all three taxes up to January, 2010 with the collection of Rs 28,187 million for preceding year up to January, 2009 reflects a healthy increment of 9 percent, the spokesman added. Khawaja Shaukat Ali, Chief Commissioner Inland Revenue, Regional Tax Office, Lahore has issued instructions to the field formations to leave no stone unturned to achieve the budgetary target fixed for the current financial year under all heads.
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