Punjab’s tax collection rises by 41%

LAHORE:

The Punjab Revenue Authority (PRA) has reported a 41.9% increase in tax collection during July-December 2020 as compared to the same period of the previous year.

Despite offering the biggest tax relief package of the province’s history of Rs56 billion amid the Covid-19 pandemic’s serious impact on world economies, the PRA managed to collect Rs73 billion in July-December 2020 as compared to Rs52 billion collected in July-December 2019. The incentives were offered to more than 25 sectors.

A spokesperson for the finance department termed it the biggest increase reported by any provincial tax collection authority in the country. The K-P Revenue Authority recorded a 29.2% revenue collection growth.

Published in The Express Tribune, January 3^rd, 2021.