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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 fig...

LAHORE: With a desire to increase revenues immediately economic planners impose measures without bothering to evaluate their impact on overall economy, job losses, and eventual fall in revenues....

Budget 2021: Customs duty hike to make ACs, mobile phones, spandex expensive but gold, silver, nylon get cheaper Air conditioners and refrigerators could get expensive by 2.5 percent in the short term because the customs duty on its key component compressors has been hiked to 15 percent. February 02, 2021 / 10:35 AM IST Duty on shrimp feed in increased to 15% from 5%. Customs duty on cotton raised to 10% from nil. The new Customs Duty structure will be put in place by October 1, 2021. Imported products such as compressors for refrigerators and air conditioners (ACs), raw silk, spandex ...

Widening tax net : K-P generates 66% more tax revenue in FY20 Major levy contribution was witnessed from telecom sector PESHAWAR: Established in 2013, the Khyber Pakhtunkhwa Revenue Authority (KPRA) has been making persistent annual collections under Rs11 billion, however in FY19-20, the tax body made a significant collection of Rs17.158 billion, despite the COVID-19 pandemic. The 66% hike is said to have come with a simple policy approach, ‘tax acculturation’, under which businesses and people were inclined to pay taxes. According to the KPRA’s annual report, high tax rates do not guar...