LAHORE: The Punjab Revenue Authority (PRA) witnessed a shortfall of over 35 per cent in its revue collection for the fiscal year 2019-20 end on June 30 as it was able to collect Rs107 billion against the initial target of Rs166.6 billion.
However, the PRA claimed that it has surpassed the revised revenue collection target by Rs 2 billion as it collected Rs 105 billion against the revised target of Rs 107 billion despite all odds of Covid-19 pandemic.
Further, the PRA registered a growth of 14 per cent in revenue generation as compared to the preceding fiscal year, 2018-19, when it had collected Rs 94 billion revenue.
The PRA is able to cross the target after getting arrears of Rs 5 billion from the federal government in May 2019, out of which, Rs 4.2 billion and Rs 80 million were received under two different heads. The PRA’s Rs19 billion as cross input adjustment are still pending with FBR which it is expecting to get from the federal government in the current financial year.
PRA officials claimed it a remarkable achievement considering the effects of the Covid-19 pandemic and the consequent lockdown.
The Punjab government has given a historic relief package to the businesses in Covid-19 pandemic in April whereby the rate of sales tax on more than 20 services was reduced to zero per cent for the last quarter of fiscal year 2019-20. The rate of Punjab Infrastructure Development Cess was also reduced to zero percent from April to June, 2020.
According to PRA officials, due the pandemic’s devastating effects on the services sector, PRA did not resort to any coercive measures for revenue collection and surpassed the target without any bank attachments or advance payments.
The performance augurs well for the future of the organisation, and the workforce is confident of achieving the Rs 125 billion target assigned to it for the financial year 2020-21, relying on taxpayer facilitation and stakeholder involvement.
The PRA has marked the year 2020-21 as the year of broadening of tax base, focusing on increasing revenue through increasing compliance and the number of return filers, the officials said.
The performance by the premier revenue collecting agency of Punjab is proof that revenue collection is boosted by a strategy of cooperation and collaboration between the taxpayer and the tax collector instead of an adversarial mindset, the officials stated.
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