The Punjab Revenue Authority (PRA) has collected over Rs 61.4 billion under the head of Punjab Sales Tax on Services during the financial year 2015-16 showing an increase of 41 percent against the revenue collected during the corresponding period of 2014-15 when the collection stood at over Rs 43.6 billion. Dr Ayesha Ghaus Pasha, the Finance Minister, Punjab congratulated the officers and staff of Punjab Revenue Authority (PRA) during a meeting here on Saturday held at the head office of the Authority on this performance.
PRA has set a new revenue collection record of Rs 7.45 billion in the month of June. This is the highest collection ever recorded by any tax collection agency at sub-national level in a single month. This took PRA's collection tally for the year to Rs 61.45 billion with several hundred million rupees still in bank clearing. The total collection figure for Financial Year 2015-16 compared favourably against the collection figure of Rs 43.66 billion recorded for the Financial Year 2014-15 and reflected an astonishing growth of 41 percent which remains unmatched by any other tax collection agency in the country including the Federal Board of Revenue. The fate was even more remarkable when revenue collection figures are bifurcated between telecom and non-telecom services. A review of the available data reveals that the non-telecom services grew by an astounding 65 percent. This was partially offset by the negative growth trend of-1 percent seen in the telecom sector where the revenue collection remained depressed due to external factors including blockage of several million SIMS due to implementation of the recommendations of National Action Plan (NAP), the Punjab government's decision to grant across-the-board exemption to internet/data services and continuing trend of telecom operators for seeking input adjustments on account of Federal sales tax paid on capital machinery/equipment imports relating to 3G/4G implementation. PRA's revenue performance has come on the back of solid achievements in terms of increasing its tax base.
From just 21 services in Financial Year 2012-13, the number of taxable services has grown to nearly 59 in Financial Year 2015-16. Moreover, the number of registered persons which were hovering at about 10,239 persons at the close of Financial Year 2014-15 more than doubled to 22,256 registered persons by 31st May 2016. Sources in the Authority further said that during the last financial year it registered 12,017 new taxpayers. It registered as many as 13, 522 new taxpayers under the tenure of present Chairperson Dr Raheel Siddiqui, from April 01, 2015 to May 31, 2015.
Though the initial revenue target for the Authority was set by the Punjab government at Rs 72 billion but later it was revised downward to Rs 62 billion. Reason behind downward revision in tax collection was that internet was exempted from the sales tax from where the Authority was expected a sum of Rs 5 billion, sales tax on oil tankers was held in abeyance on the request of the federal ministry for petroleum and collection on air-tickets could also not be made because of various reasons, the sources said.
Monthly break-up of revenue collection by the Punjab Revenue Authority (PRA) reveals that it collected Rs 4,406 million in July 2015, Rs 4,419 million in August, Rs 4,102 million in September, Rs 4,268 million in October, Rs 4,570 million in November, Rs 5, 323 million in December, Rs 4, 595 million in January 2016, Rs 4, 877 million in February, Rs 5, 195 million in March, Rs 6, 165 million in April and Rs 6, 081 million in May 2016.
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