PRA collects 33% higher revenue
The Finance Bill 2022 showed that the government had proposed 15% capital gains tax, if shares were sold in the first year. Photo: file
The Punjab Revenue Authority (PRA) collected Rs13.45 billion on account of sales tax on services during August 2022 as compared to the collection of Rs10.11 billion during the corresponding period of last year, showing an increase of 33%. The overall revenue collection during the current fiscal year till August stood at Rs27.8 billion, which was 35% higher than Rs20.59 billion in the same period of last year. “This indicates a promising performance during the first quarter of FY 2022-23,” said PRA in a statement. It added that the authority did not resort to any coercive measures for the collection of taxes rather it focused on taxpayer’s education and facilitation through training workshops and PRA’s online complaint/ facilitation portal. “The authority is also focusing on broadening of tax base through the registration of new taxpayers.”
Published in The Express Tribune, September 3rd, 2022.
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