KP to collect Rs 41.262 billion from its own revenue receipts in Fiscal Year 2019

The provincial government of Khyber Pakhtunkhwa has estimated a target of the collection of Rs 41.262 billion from its own revenue receipts during the current financial year 2018-19, said the White Paper on the annual budget for the year.
Tax receipts of Rs 23.823 billion (57.7%) including Sales Tax on Services to the tone of Rs 15 million while the remaining 42.3% are non-tax receipts of Rs 17.439 billion. The tax receipts are included direct taxes including tax on agriculture income/land, Urban Immovable Property (UIP) Tax, Tax on Transfer of Property Registration. Land Revenue & Profession, Trade and Calling etc.
The revised estimates of direct taxes during 2017-18 was Rs 3.2 billion while budget estimates for the current fiscal year 2018-19 is Rs 4.620 billion, which is 13.1% higher than last financial year. The major component of tax receipts comprise of Sales Tax on Services, Provincial Excise, Motor Vehicle Tax, Stamp Duties, Cess of all types and electricity duty etc.
The revised estimates for financial year 2017-18, from indirect taxes was estimated at Rs 16.908 billion and budget estimates 2018-19 is Rs 19.985 billion showing an increase of 18.1% over revised estimates of the last fiscal year of 2017-18. On behalf of the provincial government, Pakistan Electric Power Company (Pepco) collects Electricity Duty, whose rates were last revised w.e.f 01-07-2016, which are being implemented.
This duty is usually adjusted by Pepco against the receivable of electricity dues of provincial government departments/ local bodies. An amount of Rs 470 million has been adjusted at source by Pepco during fiscal year 2017-18, while an amount of Rs.967.457 million (up to June 2018) is still outstanding against the power company. The provincial tax receipts collected since 2013-14 to 2017-18 and to be collected during 2018-19 have shown upward trend despite various problems and challenges.
Tax from agriculture income/land was Rs.85 million while target for the current fiscal year is Rs.110 million. Similarly, the revised target of Urban Immovable Property Tax for fiscal year 2017-18 was Rs.900 million while the estimated target for current fiscal year of 2018-19 is Rs.1 billion Furthermore, Rs.270 million will be collected from Tax on Transfer of Property (Registration), Rs.2.550 billion from land revenue, Rs.350 million from Tax on Profession, Trades & Callings and a receipt of Rs.340 million from Urban CVT (Provincial) respectively. Out of the total indirect taxes of Rs.19.985 billion, an amount of Rs.1.995 billion will be collected from Motor Vehicle Tax (Route Permits+Fitness), Rs.1.230 billion from stamp duty, Rs.819 million from electricity duty, Rs.471 million from taxes on hotel/real estate dealer/TDC/electronic media, Rs.400 million from infrastructure development cess and Rs.30 million from provincial excise respectively.
The non-tax receipts consists of major heads such as income from property and enterprises, receipts from civil administration, community services, social services and economic services receipts. The total non-tax receipts for the financial year 2018-19 are estimated at Rs.17.439 billion. Out of these receipts an amount of Rs.3.886 billion will be collected from income from property & enterprises as compared to revised estimates for last financial year was Rs.3.673 billion, Civil Administration Rs.3.266 billion, Community Services Rs.1.08 billion, Social Services Rs.2.037 billion, Rs.6.784 billion from Economic Services and Rs.384 million in head of miscellaneous non-tax receipts respectively.