PESHAWAR, May 20: The NWFP government has revised downward its annual receipts target for the second time during the current financial year under the agriculture income tax and land tax heads after recording negligible recoveries, official sources told Dawn here on Monday.
The provincial government raised a paltry sum of Rs36.7m receipts under land tax and agriculture income tax during the first 10 months of the current fiscal.
Initially, recovery target under these vital heads, had been set at Rs180 million for the financial year 2001-02. Later, the tax collecting agency — Provincial Board of Revenue — brought them down to Rs67 million after experiencing substantial shortfall during the first six months of the current fiscal.
However, according to official sources, the provincial government had once again revised downward the agriculture income tax target, bringing it down to a further low for the current financial year.
The NWFP government, sources said, was now hoping to raise Rs50 million from the agriculture income tax and land tax heads during the current fiscal.
Interestingly, the money raised so far — Rs36.7m — makes 73.4 per cent of the Rs41.6m target the NWFP government should have achieved on proportionate basis during the first 10 months of the current year out of the Rs50m target set for the current fiscal.
