Government Eyes Rs 75 billion Revenue Collection
The Khyber Pakhtunkhwa administration has set an ambitious income target of Rs 75 billion for the 2019 fiscal year.
Despite the pandemic-caused financial crisis and recession, the province’s own source revenue, which included all provincial taxes, fees, and fines collected by the departments and was broken down into tax and non-tax components, continued to rise in the 2021-22 budget documents.
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In 2015-16, the administration led by Pervez Khattak had set a tax collection target of Rs 54.52 billion, but ultimately collected only Rs 25.27 billion.
The document indicated that province tax collectors were optimistic about exceeding Rs 50 billion in revenue collection during the preceding fiscal year.
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The building industry will receive tax relief next year through the extension of CVT exemption and reductions in registration fees, while land tax will be eliminated for the upcoming fiscal year in order to redirect efforts towards digitising land data and relieve farmers.
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