Punjab Excise to be assigned Rs 27.5b target in next budget

LAHORE: Government of Punjab has decided to assigned Rs 27.5 billion revenue targets to Excise and Taxation Department for the fiscal year 2016-17.

According to the details, the said revenue targets will be 10 percent more than the outgoing fiscal year 2015-16. The department will have to collector tax under the head of property tax, token tax, vehicles registration tax, excise duty and professional tax from the province.

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The government will announce the target in upcoming budget, which is going to be announced on Monday.

Meanwhile, the Excise Secretary praised the performance of the department for the record recovery in the fiscal year 2015-16.

It may mention here that Director General Akram Ashraf Gondal has also warned the directors and ETOs of strict action if they remained fail to achieve the set revenue targets.

It is also important to mention here the Excise and Taxation collected Rs 20.5 billion against Rs 21 billion during fiscal year 2014-15.