KARACHI, Oct 23: Sindh revenue from main taxes jumped by over 19 per cent to Rs5,909.4m in the first quarter of 2012-13 against Rs5,025.7m the same period last year.

According to the figures released by the Excise and Taxation Department the main increase in collection is from cotton fee which is 250 per cent up to Rs26 million against only Rs10.2 million due to heavy crop losses in floods last year.

The infrastructure cess charged on imports landing by sea and air in Karachi contributed 23 per cent to Rs3,857 million in July-Sept 2012-13 against Rs3,136 million collected last year.

There is a minor increase of 5 per cent in motor vehicle registration (MVR) tax due to decline in sales of locally assembled cars as well as slump in car leasing by banks. The revenue collected from MVR during the period under review stood at Rs717 million against Rs680 million last year. The collections on this count were however supported by imported cars which form 40 per cent of the total vehicle registered with the E&T department.

There has been an increase of 13 per cent in collections from property tax to Rs694.6 million in the first quarter of 2012-13 against Rs615 million last year.

According to taxation experts, there is great scope of revenue generation from property tax if a new survey of units, long overdue, is carried out to bring a large number of untaxed units in the net.

Revenue collections from professional tax charged on professionals, businesses and private limited firms declined by 5 per cent to Rs82.6 million in the period under review to Rs86.2 million collected last year.

The decrease is attributed to poor law and order situation marked by a wave of protest and rallies resulting in frequent business shutdowns.

Entertainment activities contributed 300 per cent higher revenue to Rs9.2 million against Rs2.4 million last year.

The revenue from excise duty improved to Rs489.4 million against Rs463.2 million last year. Collections from hotel tax rose to Rs33.2 million against Rs31.7 million earlier.

Director General Excise and Taxation Shoaib Siddiqui anticipates a big jump in revenue once the entire collection of infrastructure cess is linked to the automated tax collection system WeBOC.

More From This Section

Dar eyes forex reserves at $15bn by end-Sept

Pakistan's forex reserves are currently at $11.67bn after SBP received $2bn on Wednesday through floating of Eurobonds.

Sindh revenue collection jumps by 23pc

Revenue collection in Sindh between July 2013 and March 2014 stood at Rs23.7bn, witnessing an increase of 23 per cent.

Treasury bills losing attraction

Govt failed to mobilise banks for T-bills auction as the bids it received for the auction were less than the set target.

Punjab textile units start downsizing

Several textile units have incurred losses due to short gas supply, long power cuts, appreciating rupee against US$.


Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Cartoons
E-PAPER
Front Page