PESHAWAR: The Khyber Pakhtunkhwa (KP) government has announced that it will offer cash rewards to individuals who report or identify tax fraud in the province, while keeping their identities confidential.

Regulations to provide legal cover for this reward system, aimed at encouraging public whistleblowers, are in the final stages of development and will soon be implemented as part of efforts to combat tax evasion and fraud with the help of citizens.

This was announced by Advisor to the Chief Minister of KP on Finance, Muzammil Aslam, during his visit to the headquarters of the Khyber Pakhtunkhwa Revenue Authority (KPRA).

KPRA surpasses revenue target by Rs6.77bn

Addressing the KPRA officers, he emphasized that strict action will be taken against those found guilty of tax fraud or evasion based on citizens’ reports. He also announced that individuals who report such fraud will be rewarded with a cash prize, the amount of which will be decided soon.

Director General of KPRA, Fouzia Iqbal, welcomed the Advisor with a bouquet and, along with her team, provided a detailed presentation on KPRA’s revenue collection for the first two months of the ongoing financial year.

The KPRA has been given a revenue target of Rs. 47 billion for the fiscal year 2024-25, which is approximately 34% higher than last year’s target of Rs. 35 billion. The Advisor was informed that KPRA collected Rs. 7.17 billion in the first two months of the current financial year, reflecting a 45% growth compared to the same period last year.

The Advisor praised the efforts of the KPRA team and emphasized the importance of focusing on this year’s revenue target. “I am confident that your team will not only achieve the target but surpass it by a significant margin,” he said while addressing the DG KPRA.

He also advised KPRA officers to concentrate on large taxpayers rather than spending time on small businesses. Furthermore, he suggested that KPRA should begin sharing data with revenue authorities in other provinces and develop mechanisms for such cooperation.

Copyright Business Recorder, 2024