KPRA collects Rs30.3b in 9 months of current FY

Peshawar   -   The Khyber Pakhtunkhwa Revenue Authority (KPRA) announced a remarkable 35% growth in tax collection during the first nine months of the 2023-24 financial year compared to the same period last year. According to reports from the KPRA media wing on Tuesday, the authority has amassed Rs30.3 billion in taxes by the end of March in the current fiscal year, a significant increase from the Rs22.5 billion collected in the corresponding period of the previous year.

Tasked with collecting and administering Sales Tax on Services and Infrastructure Development Cess (IDC) in the province, KPRA has collected Rs26.7 billion from the sales tax on services and Rs3.7 billion in IDC during these nine months. This marks a substantial increase compared to last year’s collections of Rs19.7 billion from sales tax on services and Rs2.7 billion from IDC, showcasing growth rates of 34% and 36% respectively.

Director General of KPRA, Fouzia Iqbal, commended the exemplary performance of the KPRA team, noting that last year’s total collection of Rs30.5 billion has already been surpassed this year, reaching Rs30.3 billion in just nine months. She expressed gratitude to stakeholders, including taxpayers, traders, and the people of Khyber Pakhtunkhwa, for their trust and cooperation, emphasizing the importance of continued support to achieve and surpass the Rs42 billion target set for the current fiscal year.

“We are thankful to our stakeholders, the taxpayers, traders, and the people of Khyber Pakhtunkhwa for showing their trust and their cooperation during the first nine months of the ongoing financial year,” said Fouzia Iqbal, adding that KPRA aims not only to achieve but to exceed the target with the support and cooperation of all involved parties.

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