PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) surpassed its revenue collection target by Rs 3 billion in the financial year 2021-22.
The KPRA successfully collected Rs 30.02 billion against the target of Rs 27 billion assigned to it by the provincial government for the financial year 2021-22, claimed a press release issued here on Thursday.
Despite the impact of Covid-19 on the services sector and the overall economic activities in the province, KPRA showed a 45% growth in the fiscal year 2021-22 compared to the financial year 2020-21.
It is worth mentioning that KPRA has achieved a three-fold increase in its revenue collection in the past three years.
The Authority has managed to collect Rs 27.23 billion from the sales tax on services, and Rs 2.79 billion from the Infrastructure Development Cess (IDC).
The revenue collection has improved due to the effective application of the policy of reducing tax rates based on a data-driven analysis of each and every sector in the revenue stream.
The Authority worked on broadening its tax net and took its registered taxpayers’ count to more than 18, 300 by the end of FY 2021-22 which also added to the growth in the revenue collection.
All the regional offices including Mardan, South and North have successfully achieved their revenue and non-revenue targets assigned to them in the year 2021-22.
Director General KPRA Capt. (rtd) Shahbaz Tahir Nadeem has appreciated the efforts of the KPRA staff for achieving their targets and thanked the Chief Minister Khyber Pakhtunkhwa Mahmood Khan and Finance Minister Taimur Khan Jhagra for their support and guidance which helped the KPRA to achieve its targets.
He also thanked the donor agencies including USAID-KPRM, World Bank’s GPP, GIZ and SEED Pakistan for providing financial and technical assistance to KPRA in broadening the tax net and working on taxpayers’ education and facilitation aimed at tax acculturation in the province. He also thanked Pakistan Customs and PRAL for their assistance in this regard.
“It is a proud moment for all of us that we have not only achieved our targets but surpassed it with Rs3 billion. It all became possible due to the team efforts, ” he said, adding that they would continue to work with the same passion to achieve the targets assigned to KPRA for the year 2022-23.
“If we work with the same passion and continue with the same approach, I am sure that we will surpass the next year target as well and will continue on our path towards making the Khyber Pakhtunkhwa self-reliant, ” he added.