LAHORE: The Regional Tax Office (RTO) Lahore has collected Rs18.3 billion in the month of May against Rs11.5 billion in May 2021, registering an increase of Rs 6.8 billion, or 59%.
Chief Commissioner RTO Lahore Nasir Iqbal Chief also pointed out that the RTO Lahore has collected Rs185.5 billion during July21-May22 as against Rs131.8 billion in July20-May21, witnessing an increase of Rs54 billion, or 41%.
So far as the collection under Point of Sale (POS) Integration is concerned, the RTO Lahore achieved 150 POS integrations in the month of May, which was the highest number of integrations in a month by any field formation throughout the country.
Accordingly, the RTO Lahore has surpassed its own previous best of 120 integrations in the month of March. It is also worth noting that the RTO has been on the front foot to achieve 100 plus integrations for the last four consecutive months, i.e., 112 in the month of February, 120 in March, 104 in April, and 150 in May.
The Chief Commissioner said his RTO has achieved the revenue target set for the first 11 months of the current fiscal year successfully. He said the RTO Lahore was also carrying the distinction of achieving monthly target consecutively during the current fiscal year, a rare phenomenon when compared with other RTOs in the country. When asked about the factors behind the achievement, he said, his team Lahore has focused on capturing the expansion in the economy during the current fiscal year, a major factor behind its high performance. Also, he added, there was an exclusive focus on monitoring and enforcement of the revenue targets.
Iqbal was of the view that monitoring of only the real estate sector had led to robust collection amidst a tight monitoring of transactions. He said the RTO has ensured a close liaison with its withholding agents and kept carrying assessments on the basis of third party data. There was an across the board revenue growth in the fields of income tax, sales tax and withholding tax, he added.
Copyright Business Recorder, 2022