KARACHI: During the first quarter (July, 2016 to September, 2016) of the financial year 2016-17, the Sindh Revenue Board (SRB) has collected sales tax amounting to Rs. 17.2 billion which represents a growth of 16 percent as compared to the revenue of Rs 14.8 billion collected during the first quarter of 2015-16. The SRB managed to raise collection despite reduction of 1 percent in the standard rate of the tax from 14 percent in 2015-16 to 13 percent 2016-17.
SRB expects to achieve the target of Rs.78 billion as assigned for 2016-17 despite the aforesaid reduction in rate.
Sindh Revenue Board acknowledges that its aforesaid revenue collection performance was due to the continued trust, cooperation and confidence of its taxpayer, the continued support and assistance by the Government of Sindh and the relentless efforts, devotion and reduction of its employees.
