LAHORE: The Punjab Excise and Taxation Department has collected Rs 6.4 billion from July to April 30 during the current fiscal year 2014-15.
The department has recovered 82 percent of the set target for current fiscal year, during nine and half months of the fiscal year 2014-15, which is 33 percent more than last year’s collections.
In first ten months of the fiscal year of 2013-14 Excise Punjab was able to collect Rs 4.5 billion which was 33 percent less than the same period of the current physical year. Now against the target of Rs 8 billion Excise Punjab has successfully recovered the amount of Rs 6.4 billion in ten months.
The region A and C of the Lahore Division earned revenue which is 90 percent more than the set target while region B has collected 100 percent in ten months. Region B is leading in Lahore with recovery of Rs 1.9 billion in the wake of property tax during said period.
Collection of property tax is satisfactory in first six months of the fiscal year Additional Director General Excise said while talking to Customs Today. During directors conference Secretary has strictly ordered the officers to improve their recoveries as only two months are left in this fiscal year he added.
Excise property tax wing sealed thousands of properties from 1st March till todate. Number of well known buildings including Expo Centre Johar Town, Lahore Development Authority Parking Plaza and other shopping malls and houses were sealed during this crackdown.
