KARACHI: Sindh Revenue Board (SRB) collected record Rs 6.842 billion sales tax during the month of July 2016, which is the highest-ever amount collected by the board in single month since 2011.
With this collection during July 2016, the SRB also surpassed the monthly target of Rs 6.5 billion, a statement said. The SRB had collected an amount of Rs 5.302 billion during the corresponding month of 2015.
Accordingly, the collection of Rs 6.842 billion during July 2016 represents a remarkable growth of Rs 1.54 billion (29 per cent). It is pertinent to note here that the SRB is the only tax administration which has continuously achieved its assigned targets without any mid-year downward revision since the beginning of its operations in 2011-12, despite the reduction in the statutory standard rate of sales tax.
The SRB acknowledges that it was able to collect the SST amounts exceeding the assigned targets only because of the continued trust, cooperation and confidence of its taxpayers, the continuous support and assistance by the Sindh Government and the relentless efforts, devotion and dedication of its employees.
The SRB is now pursuing the assigned target of Rs 78 billion for the year 2016-17 and it expects to achieve the said target representing 28 per cent growth over the target 2015-16, despite the further reduction in the statutory standard rate from 14 per cent to 13 per cent in 2016-17.
