Tax revenue exceeded by 20pc in February

Karachi
The Sindh Revenue Board (SRB) has again achieved the highest-ever collection of provincial taxes by exceeding the monthly target of Rs4.083 billion by around 20 percent for the month of February.
The SRB collected Rs4.463 billion in taxes last month, representing an increase of about 744 million than the intended target.
Moreover, the collection of Rs29.9 billion for the first eight months, from July 2014 to February 2015, also represents a increase of more than Rs5.273 billion, or 21 percent, against the collection of Rs24.6 billion for corresponding period last year.
The Sindh chief minister Qaim Ali Shah lauded the efforts of the SRB and gave assurance of providing all support he could.
The SRB has collected higher revenue despite a one percent reduction in sales tax on service rate, from 16 to 15 percent, allowing an input adjustment of 17 percent federal sales tax on goods and higher tax rates on input of petroleum products while using just one-third of its expenditure budget.
The SRB has been gradually increasing revenue targets and aims to enhance collection up to Rs100 billion by the end of financial year 2016-2017.
During financial years 2010-11, 2011-12, 2012-13, 2013-14; the SRB collected Rs18.28 billion, Rs25.01 billion, Rs33.65 billion and Rs42.48 billion, respectively.