KARACHI: The Sindh Revenue Board (SRB) has surpassed its revenue target of Rs150 billion by collecting Rs153bn, which shows an increase of Rs3.5bn for the financial year of 2021-22 (FY22).

At a meeting on Friday, the SRB chairman presented details of the total collection for the last financial year. Sindh Chief Minister Murad Ali Shah was briefed that the SRB succeeded in its efforts in achieving yet another milestone by collecting Rs153.5bn in tax for the fiscal year 2021-22.

The said amount comprises Rs145.3bn collected under the head of Sindh Sales Tax on Services and Rs8.2bn under the Sindh Workers Welfare Fund/Sindh Workers Profit Participation Fund. Thus, SRB exceeded the assigned target of Rs150bn by Rs3.5bn. Moreover, the growth over last year’s collection of Rs128.1bn stands at 20 per cent.

SRB’s growth is significant, especially given that no amnesty scheme was announced for the years 2021-22 in order to establish a strong culture of tax compliance. Previously, such schemes generated an additional revenue of approximately Rs2-3bn.

The CM appreciated the SRB, its chairman, and the entire team for their exemplary performance. He also lauded the cooperation extended by the taxpayers and their representative bodies.

Published in Dawn, July 2nd, 2022