ISLAMABAD: Total sales tax collection (domestic) from the power sector including electricity bills stood over Rs160 billion during 2022-23.
When Business Recorder asked about the exact data of sales tax from electricity bills, sources said the information was “not readily available” with the Federal Board of Revenue (FBR).
The data revealed that the sales tax collection from the power sector amounted to Rs77 billion during the first half (July-December) of 2022-23 against Rs68.943 billion in the same period of 2021-22, reflecting a growth of 12.4 percent.
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Sources said the data included sales tax collection from independent power producers, electricity bills, and other power projects.
The FBR data further revealed that sales tax collection from the power sector during 2021-2022 stood at Rs149.536 billion.
The FBR has collected withholding tax (under Section 235 of the Income Tax Ordinance) of Rs71.412 billion on electricity bills during 2021-22 against Rs51.264 million 2020-21, reflecting an increase of 39.3 percent.
The withholding tax collection under Section 235 of the Income Tax Ordinance totalled Rs53.719 billion during the first half (July-December) of 2022-23 against Rs32.637 billion in the same period of 2021-22, reflecting an increase of 64.6 percent.
Copyright Business Recorder, 2023
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