LAHORE: The Punjab Excise and Taxation Department has recovered 57 percent of the target in the first six months of the fiscal year 2014-15, which is 23 percent more than last year’s collection same period.
The Excise and Taxation Department has recovered Rs 4604.448 million from July to 31 December 2014. In the same period of 2013-14, the department recovered only Rs 3427.281 million.
In the Budget 2014-15, the Punjab government had given target of Rs 8137.500 million property tax.
The department has recovered Rs 1176.966 million more as compared to the revenue generated during the same period of the last year. The region A, B and C of the Lahore division earned revenue which is more than 60 percent of the target.
During the meeting held under Excise Secretary Ali Tahir, he ordered the officials to take keen interest in recoveries. He allowed the department to issue notices to the defaulters with 2 percent penalty on default amount.
