AVN 67.75 Decreased By ▼ -0.73 (-1.07%)
BAFL 30.82 Decreased By ▼ -0.18 (-0.58%)
BOP 4.84 Decreased By ▼ -0.07 (-1.43%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DFML 14.05 Decreased By ▼ -0.18 (-1.26%)
DGKC 41.04 Decreased By ▼ -0.60 (-1.44%)
EPCL 47.21 Increased By ▲ 1.84 (4.06%)
FCCL 11.58 Decreased By ▼ -0.13 (-1.11%)
FFL 5.11 Increased By ▲ 0.01 (0.2%)
FLYNG 5.95 Increased By ▲ 0.10 (1.71%)
GGL 11.17 Increased By ▲ 0.76 (7.3%)
HUBC 67.68 Decreased By ▼ -0.82 (-1.2%)
HUMNL 5.71 Decreased By ▼ -0.04 (-0.7%)
KAPCO 28.03 Decreased By ▼ -0.19 (-0.67%)
KEL 2.28 Increased By ▲ 0.02 (0.88%)
LOTCHEM 26.25 Increased By ▲ 1.15 (4.58%)
MLCF 21.58 No Change ▼ 0.00 (0%)
NETSOL 86.53 Decreased By ▼ -1.82 (-2.06%)
OGDC 99.78 Increased By ▲ 0.48 (0.48%)
PAEL 11.08 Decreased By ▼ -0.03 (-0.27%)
PIBTL 4.23 No Change ▼ 0.00 (0%)
PPL 80.05 Decreased By ▼ -2.40 (-2.91%)
PRL 13.26 Decreased By ▼ -0.08 (-0.6%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 43.75 Decreased By ▼ -0.63 (-1.42%)
TELE 6.08 Decreased By ▼ -0.10 (-1.62%)
TPLP 15.88 Increased By ▲ 0.07 (0.44%)
TRG 121.33 Increased By ▲ 1.58 (1.32%)
UNITY 14.04 Decreased By ▼ -0.06 (-0.43%)
WTL 1.31 Increased By ▲ 0.05 (3.97%)
BR100 4,181 Increased By 9.7 (0.23%)
BR30 15,270 Increased By 16.5 (0.11%)
KSE100 41,723 Increased By 200.6 (0.48%)
KSE30 15,746 Increased By 83 (0.53%)
Follow us

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

Comments

Comments are closed.

May RTO Lahore collection grows 59pc to 18.3bn YoY

Rupee up 1.08%, settles at 273.33 against US dollar

OGRA calls for action against hoarders of petrol, diesel in Punjab

KSE-100 increases 0.48% owing to hopes of breakthrough in talks with IMF

ECP should announce election schedule for KP, Punjab: President Alvi

More survivors found as Turkiye-Syria quake toll tops 11,200

Pak Suzuki announces plant shutdown yet again due to inventory shortage

MCB’s profit up 10% in 2022, forex income jumps 149%

PM Shehbaz forms committee to make Special Technology Zones Authority functional

Islamabad court approves Sheikh Rashid's transitory remand in Murree case

Pakistan navy to host 50 nations in maritime exercises from Feb 10