LAHORE: The Punjab Revenue Authority (PRA) has surpassed yet another upwards revised target of Rs197 billion four days earlier than the closure of the financial year 2022-23.
According to the provisional revenue figures, the collection stands at Rs26.5bn that is higher than Rs170.5bn generated for the financial period 2021-2022.
The monthly provisional revenue figures up to 26 June 2023 stands at over Rs23bn which is 38 per cent higher than the collection of Rs16.7bn generated for June 2022.
As per the spokesperson, the authority was initially assigned Rs190bn target which was later revised to Rs195bn and finally Rs197bn.
It is pertaining to mention here that this was without the Rs15bn in input tax adjustment which was due from the Federal Board of Revenue (FBR) in the outgoing fiscal year.
He further deliberated that the achievement is beyond imaginary if compared to the economic situation of the country where the overall growth of services remained at 0.86pc.
In the last quarter, the authority relied on taxpayer facilitation as well as effective enforcement to regular non-compliant taxpayers which resulted in generating higher amount of tax collection.
As per the PRA’s chairperson, this is the fourth successive year in which PRA surpassed its revenue collection target and hopefully shall become the first provincial revenue collecting agency in the country to cross the psychological barrier of Rs200bn.
