Punjab Revenue Authority (PRA) has recorded an exceptional increase in revenue collection compared to the previous fiscal year, registering 31 percent growth during the first quarter of the current fiscal year.
PRA records 31pc growth in tax collection in first quarter of current FY
LAHORE, Oct 07 (APP): Punjab Revenue Authority (PRA) has recorded an exceptional increase in revenue collection compared to the previous fiscal year, registering 31 percent growth during the first quarter of the current fiscal year.
The Authority collected Rs. 87 billion during the first quarter, compared to Rs. 66.3 billion during the corresponding period last year, setting a new record for quarterly tax collection.
This was disclosed in an important meeting regarding annual revenue targets held under the chairmanship of PRA Chairman Moazzam Iqbal Sipra here on Wednesday. The meeting reviewed sector-wise revenue targets, tax returns and the performance of officers.
The Chairman directed that complete scrutiny of the records of entities involved in tax fraud and evasion must be ensured. He said that, on the directions of Punjab Chief Minister, positive results are emerging from efforts to expand the tax net and strengthen digital monitoring.
He added that implementation of Electronic Invoice Monitoring System (e-IMS) and measures aimed at improving tax compliance had also contributed to increase in revenue collection. The Chairman further stated that the scope of action against tax embezzlement and issuance of fake receipts is being expanded further.
