ANL 14.57 Increased By ▲ 0.06 (0.41%)
ASC 13.55 Increased By ▲ 0.25 (1.88%)
ASL 14.60 Increased By ▲ 0.60 (4.29%)
BOP 8.42 Increased By ▲ 0.05 (0.6%)
BYCO 6.50 No Change ▼ 0.00 (0%)
FCCL 18.10 Increased By ▲ 0.30 (1.69%)
FFBL 26.30 Increased By ▲ 0.30 (1.15%)
FFL 11.15 No Change ▼ 0.00 (0%)
FNEL 10.90 Increased By ▲ 0.18 (1.68%)
GGGL 15.25 Increased By ▲ 0.35 (2.35%)
GGL 31.80 Increased By ▲ 0.40 (1.27%)
HUMNL 6.21 Decreased By ▼ -0.01 (-0.16%)
JSCL 17.29 Increased By ▲ 0.29 (1.71%)
KAPCO 31.40 Decreased By ▼ -0.08 (-0.25%)
KEL 3.21 Increased By ▲ 0.01 (0.31%)
MDTL 2.27 Increased By ▲ 0.07 (3.18%)
MLCF 34.11 Increased By ▲ 0.31 (0.92%)
NETSOL 98.50 Increased By ▲ 1.25 (1.29%)
PACE 4.26 Increased By ▲ 0.04 (0.95%)
PAEL 23.15 Increased By ▲ 0.15 (0.65%)
PIBTL 7.60 Increased By ▲ 0.17 (2.29%)
POWER 6.65 No Change ▼ 0.00 (0%)
PRL 13.70 Increased By ▲ 0.20 (1.48%)
PTC 8.87 Decreased By ▼ -0.03 (-0.34%)
SILK 1.35 Increased By ▲ 0.05 (3.85%)
SNGP 40.71 Increased By ▲ 1.05 (2.65%)
TELE 16.43 Increased By ▲ 0.03 (0.18%)
TRG 86.85 Decreased By ▼ -0.55 (-0.63%)
UNITY 25.20 Decreased By ▼ -0.02 (-0.08%)
WTL 2.14 Increased By ▲ 0.04 (1.9%)
BR100 4,660 Increased By ▲ 141.44 (3.13%)
BR30 18,804 Increased By ▲ 526.98 (2.88%)
KSE100 45,330 Increased By ▲ 1215.89 (2.76%)
KSE30 17,550 Increased By ▲ 516.47 (3.03%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,709
524hr
Pakistan Cases
1,284,365
17624hr
0.48% positivity
Sindh
475,248
Punjab
442,950
Balochistan
33,479
Islamabad
107,626
KPK
179,928

LAHORE: Punjab has collected highest-ever sales tax on services during the month of August comparing to the corresponding period.

According to the provisional figures, the Punjab Revenue Authority has collected Rs.10.3 billion during August 2021 compared to Rs.8.7 billion in August 2020. Thus the total collection for the first two months of the financial year is Rs.20.8 billion, which is 19% more than the 17.5 billion collected during the same period last year.

It may be noted that this is the highest ever collection for the month of August by the Punjab and augurs well for the chances of achieving its assigned revenue target of Rs.155.9 billion for 2021-22.

The Authority has already succeeded in surpassing its revenue targets for 2019-20 and 2020-21 and is on track for completing a hat-trick of achieving its targets, an unprecedented feat for any revenue authority of the country.

The Authority’s spokesperson said that it is intended to continue the policy of the Government of collaboration with stakeholders, avoidance of coercive measures and creating an atmosphere of facilitation, treating taxpayers as partners of the government.

The Authority has always relied on automation and minimum human interface and is currently striving towards complete automation of workflow and creation of an integrate database.

These measures, the spokesperson added, would enable the Authority to broaden its tax base, create ease of paying taxes and detect tax evasion in a much more efficient manner.

Copyright Business Recorder, 2021

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.