Lahore: The Punjab Excise Department has recovered Rs 35.5 billion in various taxes during the first quarter of the current fiscal year.
Against the department’s total annual recovery target of Rs 124 billion, approximately 28.6 percent of the goal was achieved in the first quarter.
According to Excise Department data, Rs 16.5 billion was collected in property tax during this period, while the annual target for property tax for the current fiscal year is set at Rs 42 billion. Similarly, Rs 16.7 billion was recovered in motor vehicle tax, the annual recovery target for this category is set at Rs 72 billion.
A combined total of Rs 33.2 billion was collected from property and motor vehicle taxes, alongside recoveries from other tax categories.
Officials state that following the first-quarter recovery, an additional Rs 88.5 billion must be collected over the remaining three quarters of the fiscal year to meet the overall annual target of Rs 124 billion.