LAHORE– The Punjab Revenue Authority (PRA) has registered a growth of 62 per cent in June.
According to provisional collection figures, the Authority collected revenue of Rs15.47 billion in the month of June 2021 with an incredible growth of 62% over the collection of Rs9.55 billion in June 2020 last year.
The Punjab’s premier revenue collection authority registered remarkable revenue collection of Rs144.1 billion for the FY 2020-21 closing on June 30 registering a growth of 32.7% over the collection of Rs108.59 billion last year.
Considering the impact of Covid-19, the initial target for PRA was set at Rs125 billion which, in view of the unprecedented growth shown by the Authority, was later revised to Rs141.15 billion.
The Authority achieved the initial target of Rs.125 billion in May this year and was confident on achieving the revised target.
According to Chairperson PRA, this was the first year in the history of PRA that the revenue target was revised upwards and the collection figures were clear evidence that the Punjab Government’s policy of revenue collection through facilitation and stakeholder involvement had been successful.
He said that although the rates of sales tax on services for more than 25 services were reduced through the Finance Act, 2020 to provide relief to the sectors affected by the COVID-19 pandemic, the Authority had managed to counter the effects of the reduction and had shown an increase in revenue following the Government’s policy of taxpayer facilitation and education and collaboration with all stakeholders.— PRESS RELEASE
