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SRB collects Rs3.9b, registers highest ever monthly collection

SRB collects Rs3.9b, registers highest ever monthly collection

KARACHI: Sindh Revenue Board (SRB) has collected over Rs 3.9 billion in the month of April. The total collection during the first ten months of the current fiscal year has reached Rs 32 billion.

This reflects a growth of 18.5 per cent as compared to fiscal year 2012-13 collection which stood at Rs 27.3 billion. In addition to this, the revenue collection in the month of April is highest ever collection in a single month by the provincial revenue body.

Sources revealed that Rs 700 million have been collected under the incentive scheme, which was launched on April 17 after the approval of provincial government, giving waiver of full penalty amount and 95 per cent discount on default surcharge. Surprisingly the aforementioned amount has been collected in 13 days as SRB was firm in its decision of not extending the deadline for the incentive scheme which ended on April 30, 2014.

The pace with which taxes are being collected in the province shows the confidence of taxpayers in the provincial revenue collection body due to efficiency and friendly mechanism applied by the Board which is attracting the taxpayers, setting new trends in tax collection, a senior revenue official commented.

SRB’s budgetary target is set at Rs 42 billion for the current fiscal year.