KPRA meets it annual revenue target
The Khyber Pakhtunkhwa Revenue Authority (KPRA) successfully collected Rs20.8 billion in the financial year 2020-21 achieving all its revenue targets.
Despite the disastrous impact of the Pandemic Covid-19 on the overall economy of the province, the KPRA has doubled its revenue collection since 2018-19 which shows its exceptional performance in these two years.
The KPRA showed 22% growth rate in the overall revenue collection compared to the financial year 2019-20 in the collection was Rs 17 billion.
It is worth mentioning that the Khyber Pakhtunkhwa government had given a huge tax relief package to the business community by slicing down the rates of sales tax on services on 28 different sectors in the year 2020-21. Despite the reduction in tax rates the KPRA still managed to meet its annual targets by expanding its tax net taking it to over 15,000 registered taxpayers.
Every regional office of the authority has showed tremendous progress in meeting their annual revenue and non-revenue targets. KPRA Peshawar achieved 107% of its target in non corporate and withholding collecting Rs160 million more than the actual target given to it. The South Region of KPRA was tasked to collect Rs1.5 billion which it successfully achieved and even managed to exceed the target given to it.
Similarly, the Mardan Region also exceeded its annual target of collecting Rs800 million, while, the Northern Region successfully collected Rs928 million. The KPRA also exceeded the annual target given to it in the collection of Infrastructure Development Cess (IDC). The government had tasked KPRA to collect Rs1300 million in the IDC and it managed to collect Rs1410 million.
Director General KPRA Mr. Fayyaz Ali Shah 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 supervision.
“It’s a proud moment for KPRA as we have continued our progress despite challenges posed by the Pandemic. It all became possible due to the vision and guidance of the honorable Chief Minister Khyber Pakhtunkhwa Mr. Mahmood Khan and the guidance and policies of the honorable Finance Minister Mr. Taimur Khan Jhagra,” said Fayyaz Ali Shah in his statement.
