The Punjab Revenue Authority (PRA) has collected Rs 13.45 billion on account of sales tax on services in August 2022 against the collection of Rs 10.11 billion during a similar period last year, indicating an increase of 33%.
As per the PRA statement, the overall revenue collection in the current fiscal year till August stood at Rs 27.8 billion, which was 35% more than Rs 20.59 billion in the same period of last year. “This indicates a promising performance during the first quarter of FY 2022-23,” the statement said.
Chairman PRA Zainulabdin Sahi in the statement said that the authority did not resort to any coercive measures for the collection of taxes instead it focused on taxpayers’ education and facilitation from training workshops and PRA’s online complaint/ facilitation portal. “The authority is also focusing on broadening of tax base through the registration of new taxpayers.”
“The focus of the Punjab Revenue Authority is on voluntary compliance and it is delivering well”, PRA Chairman added.
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The authority has collected Rs 27.8 billion during the first two months of the fiscal year 2022-23, Rs 20.59 billion in the fiscal year 2021-22, and Rs 17.46 billion in the fiscal year 2020-21. This shows that the PRA is expected to surpass the assigned revenue collection target for the fiscal year 2022-23 against the target it collected in consecutive past two fiscal years.
The data further shows that the telecommunication services made a contribution of Rs 5.872 billion, banking/non-banking/insurance Rs 4.488 billion, courier services Rs 1.178 billion, withholding agents Rs 3.728 billion, franchise services Rs 1.060 billion, construction services Rs 855 million, restaurants Rs 939 million, manpower recruitment agents Rs 659 million, contractual execution of work Rs 689 million, and services provided by the person for inter-city carriage of goods via rail or road Rs 604 million.
Moreover, the Punjab Revenue Authority spokesperson said that the consistent increasing trend in revenue collection suggests that the authority will attain its assigned targets successfully by adopting strategies of taxpayer facilitation and education duly complemented by the broadening of the tax base.