KARACHI: Sindh Revenue Board (SRB) has achieved the assigned target of Rs78 billion for the fiscal year 2016-17.
In addition, SRB is expecting some more amount of Sindh Sales Tax to be reported by the provincial treasuries of Sindh by the first week of July 2017, said a statement issued by the SRB.
It is pertinent that SRB’s target of Rs78 billion for 2016-2017 was 28 percent higher than the target of Rs61 billion for 2015-2016.
It is also pertinent that the standard rate of Sindh sales tax during 2016-2017 was 13 percent as against the standard rate of 14 percent during 2015-2016.
SRB has also been assigned the task of collection of Sindh Workers Welfare Fund (SWWF) and Sindh Workers Profits Participation Fund (SWPPF) for which a target of Rs765 million was fixed for 2016-2017. SRB collected an amount of Rs 2,170 million i.e. 284 percent of the assigned target.
The SRB acknowledges that it was able to accomplish the assigned task of revenue collection exceeding the assigned target only because of the continued trust, cooperation and confidence of its taxpayers, the continuous support and assistance by the government of Sindh and the relentless efforts, devotion and dedication of its employees.
The SRB shall now pursue the assigned Sindh sales tax revenue target of Rs100 billion for the year 2017-2018 and it expects to achieve the said target representing 28.2 percent growth over the target of 2016-2017.
