Punjab beats tax collection target

Receives revenue of Rs168 billion in outgoing fiscal year

LAHORE:

The Punjab Revenue Authority (PRA) has surpassed the revised tax collection target of Rs165.5 billion for financial year 2021-22.

According to the provisional figures, the PRA’s collection stood at Rs168 billion until June 28, which was 108% of the original target of Rs155.9 billion and 101.5% of the
revised target.

According to a PRA spokesperson, the authority expects to receive substantial revenue in the last two days of the outgoing financial year and is hoping to end the year close to Rs170 billion.

Earlier this year, the PRA became the first provincial revenue collecting agency in the country to cross the psychological barrier of Rs150 billion and “the collection in June has further established that it is the leading provincial revenue collecting agency,” the spokesperson said.

This is the third successive year in which the PRA has surpassed the revenue collection target. Earlier, the authority collected more than the target of Rs105 billion and Rs125 billion in financial years 2019-20 and 2020-21 respectively.

The PRA spokesperson emphasised that the success had been achieved without resorting to any coercive measures such as the sealing of premises, freezing of bank accounts or receiving
advance payments.

Published in The Express Tribune, June 30^th, 2022.

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