Khyber Pakhtunkhwa Revenue Authority has collected Rs 5.5 billion since July 2018 to January 2019 out of the set revenue target of Rs 15billion for the current financial year that will end on June 30. It was disclosed at 6th meeting of the policy making council (PMC) of Khyber Pakhtunkhwa Revenue Authority (KPRA), held at its office in Peshawar where Provincial Minister for Finance Taimoor Saleem Khan Jhagra chaired.
KP Secretaries for Finance, Law and Parliamentary Affairs, Excise and Taxation and president of KP Women Chambers of Commerce and Director General of KPRA attended the meeting. KPRA Director General Tahir Aurkazai said that the revenue target for 2018-19 was Rs 15 billion and the authority had collected Rs 5.5 billion in the first seven months of the financial year despite the suspension of mobile phone card tax by the Supreme Court.
"Additionally, rupees 1.3 billion is expected from Federal Board of Revenue in terms of input Tax Adjustment during the current fiscal year," he said, adding that the number of service providers registered with KPRA increased to 6681 from 3842 by the end of the last fiscal year.
The council thoroughly discussed the latest status of the decisions made at the special meeting of the PMC held in January last year, draft laws and rules pending with the government, updated position regarding revenue collection in the fiscal year 2017-18 and 2018-19. The council also approved the agenda items related to hiring of tax and financial advisers as well as hiring of tax lawyers.
Jhagra appreciated KPRA for making the sales tax system functional and directed the Authority to make all out efforts for achieving the tax collection targets. He emphasised that they should also upscale the organisation's capacity to enhance revenue target in the years to come to tap the potential at Rs 50 billion in the service sector. He also directed the concerned departments to expedite the vetting of the pending KPRA's laws and rules.
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