KARACHI: The Sindh Revenue Board (SRB) has missed the revenue collection target of Rs135 billion for fiscal year 2020/2021 and collected Rs128 billion during the year.
However, the collection for 2020/2021 has registered an increase of 21 per cent in revenue collection for fiscal year 2020/2021 despite adverse economic environment due to coronavirus.
The SRB collected Rs128 billion during fiscal year 2020/2021 as compared with Rs106 billion in the preceding fiscal year, a top official said on Thursday.
The official said the growth in revenue collection is impressive considering the general economic slowdown and the resurgence of COVID during the year.
The SRB however missed the revenue collection target of Rs135 billion for the fiscal year under review.
The official that the collection of Rs128 billion includes record receipts of Rs121 billion of Sindh sales tax, representing a growth of 21 percent over the collection of Rs100 billion during 2019/2020.
Collection of Sindh Workers Welfare Fund by SRB during 2020/2021 stood at Rs7 billion as compared to the collection of Rs6 billion during the preceding year, which also represents a growth of 17 per cent.
The official said that the milestone that SRB had reached represented a consistency of achievement since organization’s inception since 2011, courtesy the hard work and steadfastness demonstrated by the workforce beyond the normal call of duty.
The official said that no new tax was levied in the Sindh Budget 2020/2021. The business environment was also significantly unfavorable for the services sector which was hard hit by the COVID-19 throughout the year, forcing partial lockdowns.
