PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) collected Rs 13.97 billion from July 2020 to February 2021 registering a phenomenal growth of 29 percent over Rs 10.84 billion collected in the eight months of the corresponding period of the previous financial year and 161 percent growth as compared to the figures of FY 2018-19.

Tax expert Muhammad Umair Zeb stated this performance is all the more remarkable in view of the unprecedented tax relief package given by the KP government through the Finance Act, 2020. The government also gave major tax relief to sectors considered crucial for economic growth.

A statement issued here on Wednesday stated that a KP renowned tax expert Muhammad Umair Zeb shared updated comparison according to Finance Minister Taimur Saleem Jhagra’s tweet and KPRA official’s year to date revenue of Rs 13.97 billion collected till end-Feb, 2021. Progress boosted up by 29 percent as compared to figures of last year i.e. Rs 10.84 billion.

January and February revenue of Rs 1.7 and 1.8 billion was more than target predicted and highest achievement. January and February have shown sustained growth despite Infrastructure Development Cess (IDC) revenue being down due to Torkham border closure on the Afghan side, due to a strike, for most of the months.

During the current financial year, KPRA did not resort to any coercive measures for tax collection such as sealing business premises or attachment of bank account. Instead, following the government’s policy of stakeholder involvement, KPRA relied on taxpayer facilitation and education.

KP Finance Minister Taimur Saleem Jhagra praised the performance of KPRA. Umair Zeb, Member of Tax bar Peshawar, attributed all credit for the performance to KP Finance Minister Taimur Saleem Jhagra, Director-General Syed Fayyaz Ali Shah and relentless efforts of the KPRA officers and staff. He said that he was confident that the KPRA team would continue to work hard and achieve the assigned revenue target for the Financial Year 2020-21.

Copyright Business Recorder, 2021