Synopsis
The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy.
PTI
The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy.
Replying to a question on impact of rising fuel prices on country s economic recovery from the Covid-19 pandemic in the Lok Sabha, minister of petroleum and natural gas Hardeep Singh Puri said that revenue generated by taxation (on petroleum products) is used in various developmental schemes of the Government like Pradhan Mantri Gram Sadak Yojana (PMGSY), Pradhan Mantri Ujja
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July 9, 2021
PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) has surpassed the revenue collection target for the fiscal year 2020-21 by collecting Rs20.8 billion against the revised upward target that signified 22 percent growth, said an official during an online session.
According to figures shared by tax and audit expert Muhammad Umair Zeb, the authority witnessed 22 percent growth on year basis by collecting Rs20.8 billion in the fiscal year 2020-21 compared to the corresponding fiscal year of Rs17 billion.
He said the growth witnessed 100 percent increase as compared to the figure of 2018-19, which was 10 billion.
Umair Zeb, who is a member of Tax Bar Association Peshawar, said the government had facilitated the taxpayers and adopted a collaborative approach that has worked.
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