LAHORE: The revenue collection by the Punjab Revenue Authority (PRA) has increased by 41 per cent to Rs61.45 billion in financial year 2015-16 compared to the previous year’s Rs43.66 billion.
“In June alone, the PRA set a new revenue record as it received Rs7.45 billion in the month,” said Punjab Finance Minister Dr Ayesha Ghaus Pasha while talking to members of the PRA. “This is the highest amount ever recorded by any tax collection agency at the sub-national level in a single month.”
This took total revenues for the year to Rs61.45 billion with hundreds of millions of rupees still in the bank clearing process.
A review of available data reveals that revenues from non-telecom services grew an astounding 65%. This was partially offset by a negative growth of 1% in revenues from the telecom sector where collections remained depressed due to a host of factors.
These included blocking of millions of SIMs in the wake of implementation of recommendations for the National Action Plan to eliminate terrorists, grant of across-the-board tax exemption by the Punjab government to internet and data services and input adjustment sought by telecom operators on payment of federal sales tax on capital machinery and equipment imports relating to 3G/4G services.
The provincial government has also managed to expand its tax base. From just 21 services in 2012-13, the number of taxable services grew to nearly 59 in 2015-16.
Moreover, the number of registered persons, which were about 10,239 at the close of financial year 2014-15, more than doubled to 22,256 by May 31, 2016. The finance minister also appreciated the key initiatives taken by the PRA such as the Tax Day held on April 10, the Restaurant Invoice Monitoring System and the Amanat Scheme.
