Local taxes: Dept misses revenue target by Rs330m
Advertisements and local taxes department of KMC failed to meet its revenue target of Rs1 billion in last fiscal year.
KARACHI:
The advertisements and local taxes department of the Karachi Metropolitan Corporation (KMC) has failed to meet its revenue target of Rs1 billion in the last fiscal year. From the 1,378 sites under its jurisdiction, the department collected Rs670 million in taxes in 2011-12 - a significant shortfall of Rs330 million. Sites for billboards and advertisement banners are some of the major sources of revenue generation for the KMC. Apart from financial irregularities in the department, another factor for the shortfall is that cantonment boards allegedly use the KMC’s land. The local taxes department has written letters to the cantonment board authorities but no responses have been received. The department director, Akhtar Ali Sheikh, initially responded that the matter was related to the finance department. He refused to share further details of the tax recovery.
Published in The Express Tribune, October 14th, 2012.
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