Punjab sees 42pc increase in tax collection

LAHORE: Punjab Finance Minister Hashim Jawan Bakht has attributed the 42% increase in tax collection during first six months of this financial year to the confidence of general public in policies of PTI government.

Bakht on Saturday announced that Punjab Revenue Authority (PRA) collected Rs74 billion during July to December 2020 which is 42% higher than the Rs52 billion collected during same period in 2019.

He shared that this is the highest growth rate of any provincial revenue authority.

Bakht said that the growth was achieved despite heavy tax relief of Rs56 billion to offset impact of coronavirus. He added that tax incidence was decreased on 25 services from 16% to 5%.