LAHORE: The Large Taxpayers Unit (LTU) ensures stocktaking of sugar mills fall into its jurisdiction under Section 40B of Sales Tax Act, 1990 in order to plug revenue leakage.
This was stated by Lahore LTU Zone-III Additional Commissioner Sahibzad Omer Riaz during an exclusive interview with Customs Today. He said that the LTU every year deputed teams in the sugar mills throughout the crushing season to monitor the production of mills. He explained that teams also made stocktaking of those mills which show abnormal performance in tax payment
He further said that department has to face deficit in collection of sales tax when oil prices fall in international market, as the supply is decreased by companies that imposed negative impact on revenue collections. In this situation, the LTU made optimum collection of sales tax from other taxpayers to offset collection under the law, he added.
Talking about his jurisdiction, Omer Riaz said that twenty eight sugar mills and oil and gas companies came under the jurisdiction from where taxes were collected.
He said that LTU Zone-III collected taxes from Sui Northern Gas Pipeline Limited (SNGPL), Pak-Arab Oil Refinery Company (PARCO), Sui Gas and Total Parco Pakistan (Private) Limited, adding that PARCO contributed much more revenue than other oil and gas companies. Omer Riaz further said that 28 sugar mills came under the jurisdiction from where he collected taxes.
The zone-III collected Rs 16, 971 million during first quarter of new fiscal year 2016-2017. In July, it collected Rs 19 million in wake of income tax, Rs 2,123 million under the head of sales tax and Rs 307 million as federal excise duty (FED). In August, it generated Rs 136 million as income tax, Rs 5,508 million as sales tax and Rs 2 million as FED.
In September, Rs 2,497 million were collected as income tax, Rs 6,377 in wake of sales tax and Rs 3 million as FED. Collectively, the zone collected Rs 2,653 million as income tax, Rs 14,007 million as sales tax and Rs 312 million as FED.
Sahibzad said that LTU showed outstanding performance and achieved all targets under the supervision of Chief Commissioner Chaudhary Safdar, while Commissioner Tariq Chaudhary also played vital role in tax collection.
He said that most of dedicated, professional, competent and hardworking officers have been posted at the LTU, adding that the LTU will not only meet the target but also surpass it in order to strengthen the national economy.
Omer Riaz said that the zone-III always achieved the targets assigned by Federal Board of Revenue (FBR) and LTU.
He said that he always discussed important matters with seniors on a daily basis and learnt from their experiences, adding that motivation by the chief commissioner always encouraged him to perform duty with dedication.
