Karachi, Pakistan: The Sindh Revenue Board (SRB) has announced that Sindh province has surpassed all other provinces in tax collection for the current financial year, despite having a lower tax rate.
Chairman of the SRB, Wasif Memon, revealed that the province collected Rs237 billion in taxes during the previous financial year, exceeding the target of Rs235 billion. For the current financial year, the target has been set at Rs350 billion.
Memon attributed the increase in tax collection to the implementation of the Point of Sale (POS) system in the restaurant sector. The POS system has led to a significant rise in tax collection from restaurants, from Rs20 million to Rs80 million. Express Tribune
While some restaurant owners have objected to the higher tax rate for cash payments, Memon emphasized that technology is being used to combat tax evasion.
The SRB has also expanded its tax net to include intra-city goods transporters, educational institutions, and hospitals, which is expected to further boost revenue collection.
The SRB’s success in exceeding tax collection targets demonstrates the effectiveness of its strategies and the province’s commitment to improving its financial position.
