K-P tax collection soars by 46%
PESHAWAR:
Advisor to the Khyber Pakhtunkhwa Chief Minister on Finance and Interprovincial Coordination, Muzzamil Aslam, announced that the Khyber Pakhtunkhwa Revenue Authority (KPRA) has increased tax collection by 46%.
He stated that tax collection from July to January reached an impressive Rs28.92 billion, reflecting a significant 46% rise compared to the previous year.
This substantial growth highlights the province's strengthening economy and the government's commitment to fiscal responsibility.
The advisor further noted that non-tax revenue in Khyber Pakhtunkhwa exceeds 55%, which will push the overall revenue growth beyond 50%. This achievement is attributed to the government's diversified revenue streams and effective financial management.
Aslam expressed his gratitude to Chief Minister Ali Amin Gandapur for his continuous support and congratulated the KPRA Director General Fozia Iqbal and other staff on collecting additional taxes.
Their hard work and dedication have been instrumental in achieving this milestone.
it may be recalled that in January this year KPRA announced that it collected Rs24.2 billion in the first six months of the financial year 2024-25, marking an impressive 45 per cent growth compared to the same period last year. Last year it collected only Rs16.7 billion in the first six months which shows Rs7.5 billion increase in revenue.
As per details shared by the KPRA's media wing, the Authority has collected Rs18.15 billion from the sales tax on services, and Rs6.07 billion from the Infrastructure Development Cess (IDC).
Last year, collections from sales tax on services amounted to Rs14.6billion, while Rs2.1billion was collected from the IDC, reflecting a 24 per cent growth in sales tax on services and an astonishing 189 per cent growth in IDC.
Director General KPRA, Fouzia Iqbal, praised the dedication and hard work of the KPRA team, which has resulted in an impressive performance over the past six months.
She expressed her confidence that with sustained efforts, not only will the annual revenue target be achieved, but it will also be exceeded significantly.
"With the same level of commitment and our strategic approach, I am confident that we will surpass this year's target. And by the end June, KPRA will once again stand out as a beacon of excellence in performance," she remarked. The Director General also extended her gratitude to taxpayers for their trust, confidence, and cooperation, which have been instrumental in KPRA's achievements so far.
Additionally, she acknowledged the support and guidance of Chief Minister and Advisor to the CM on Finance. Their leadership, she noted, has been pivotal in enabling KPRA to implement effective strategies and move closer to its objectives.
She said that tax collection increased despite the fact that country has been faced with an economic recession.
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