Lahore: The Punjab Revenue Authority (PRA) registered 22% growth in revenue collection from the non-telecommunication sector during the first half of the fiscal year 2018-19, a news source reported. The collection stood at PKR 28.832 billion in taxes this time; better than the PKR 23.664 billion received last year.<\/p>\n
At the same time, PRA recorded a shortfall of 21% in withholding tax collection. The provincial exchequer has also suffered from the tax suspension ordered on pre-paid and post-paid cellular services by the Supreme Court of Pakistan. As such, the telecommunication sector is the single largest tax contributor.<\/p>\n
During the fiscal year 2017-18, the telecommunication sector contributed PKR 12.832 billion to the provincial vault. In the recent fiscal cycle, this figure saw a reduction to PKR 5.888 billion, registering a decline of 54%.<\/p>\n
PRA Chairman Javed Ahmed, speaking on the matter, said that the overall performance of the non-telecom revenue collection effort was encouraging \u2013 because it indicated that authority was flowing in the right direction. However, he was also of the opinion that slow economic growth was impacting tax revenues adversely; thereby causing difficulties for tax collection agencies.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lahore: The Punjab Revenue Authority (PRA) registered 22% growth in revenue collection from the non-telecommunication sector during the first half of the fiscal year 2018-19, a news source reported. The collection stood at PKR 28.832 billion in taxes this time; better than the PKR 23.664 billion received last year. At the same time, PRA recorded a shortfall of 21% in withholding tax collection. The provincial exchequer has also suffered from the tax suspension ordered on pre-paid and post-paid cellular services by the Supreme Court of Pakistan. As such, the telecommunication sector is the single largest tax contributor. During the fiscal year 2017-18, the telecommunication sector contributed PKR 12.832 billion to the provincial vault. In the recent fiscal cycle, this figure saw a reduction to PKR 5.888 billion, registering a decline of 54%. PRA Chairman Javed Ahmed, speaking on the matter, said that the overall performance of the non-telecom revenue collection effort was encouraging \u2013 because it indicated that authority was flowing in the right direction. However, he was also of the opinion that slow economic growth was impacting tax revenues adversely; thereby causing difficulties for tax collection agencies.<\/p>\n","protected":false},"author":57,"featured_media":46872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[9756],"persona":[],"class_list":{"0":"post-46871","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-tax-collection-for-non-telecom-sector-up-by-22"},"acf":[],"yoast_head":"\n