app
lahore
Regional Tax Office-II, Lahore recorded 14 percent growth in tax revenues by collecting Rs 51.257 billion up to April 2015 against Rs 45.025 billion during the corresponding period last fiscal year.
Talking to APP here Sunday, RTO-II Chief Commissioner Ms. Rukhsana Yasmin said that in absolute terms Rs 6.232 billion (14 percent) higher taxes collected till April-2015 as compared to the last year. To a question, she elaborated that major revenue spinner of the RTO-II was taxation of salary vis-a-vis Income Tax, however, revenue impact was almost stationary from this sector as tax rates of salary remained the same during current fiscal year. The Chief Commissioner added that despite negative trend in revenue collection due to power sector outages especially tax collection from the CNG (Compressed Natural Gas) sector, the RTO-II succeeded to achieve 14 percent growth. During this fiscal year, she added that only Rs 71 million taxes collected from the CNG sector as compared to Rs 2,548 million in the previous financial year. She said that during the current financial year, top ten revenue contributors were also transferred to Large Taxpayers Unit (LTU) Lahore.
­Although above factors were major obstacles in the way of achieving the assigned revenue target of 51.123 billion up to April 2015 (13.5 percent higher than the collection of Rs 45.025 billion last year), the Regional Tax Office-II collected tax revenues successfully beyond the set target, she maintained.
Giving breakup of overall revenue collection during April 2015, the Chief Commissioner said that RTO-II managed to collect Rs 3564 million against the Income Tax collection target of Rs 3657 million (97 percent); collected Rs 2359 million against Sales Tax target of Rs 2179 million (108 percent); and Rs 17 million against Federal Excise Duty (FED) target of Rs 50 million (34 percent). While, the total tax revenues collection during the said period remained at Rs 5940 million against the set target of Rs 5886 million (101 percent), she added.
To another question, the Chief Commissioner Ms. Rukhsana Yasmin said that overall revenue collection during ten months either up to April 2015 of the current fiscal year, was Rs 29200 million collection against Income Tax target of Rs 29213 million (99.9 percent); Rs 21866 million against Sales Tax target Rs 21686 million (101 percent) and Rs 191 millioncollection against Federal Excise Duty (FED) target of Rs 224 million (85 percent). She mentioned that total tax revenue collection remained at Rs 51.257 billion against the target of Rs 51.123 billion (100.02 percent) during ten months of financial year 2014-15.
She said that credit goes to herself and her dedicated team members for showing revenue collection beyond the set targets. She also expressed the resolve to continue with this professional and team spirit for even more better performance.