Jul’23-Feb’24 period: SRB collection grows 33pc to Rs145.3bn YoY

KARACHI: The Sindh Revenue Board (SRB) has continued its impressive revenue collection performance, securing Rs 145.3 billion in the July 2023 to February 2024 period. This figure represents a robust 33% growth over the collections made during the same period in the previous fiscal year.

The positive growth trend was further reflected in the SRB’s February 2024 collections, which stood at Rs 18.4 billion. This marked a 28% increase compared to the Rs 14.4 billion collected in February 2023.

Dec 2023: SRB achieves Rs21.3bn tax collection

The sustained growth in tax revenue collection underscores the SRB’s efforts to enhance compliance and curb evasion within Sindh’s business community. This was evidenced by the recent crackdown on prominent Karachi restaurants found to be in violation of Sindh Sales Tax (SST) laws.

The SRB on Wednesday conducted raids on three well-known eateries in Karachi for non-payment of SST, failure to file returns, and lack of integration with the SRB’s Point of Sale (POS) invoicing system. The enforcement action revealed systematic under-declaration of sales and evasion of SST by these establishments.

The SRB has vowed to continue its drive against non-compliant businesses, ensuring they not only adhere to the relevant tax laws and rules but also deposit the full amount of sales tax collected from customers into the government treasury.

Copyright Business Recorder, 2024