The Khyber Pakhtunkhwa Revenue Authority (KPRA) has achieved a record tax collection of Rs7.1 billion in the first two months of the current fiscal year, representing a 44% increase compared to the same period last year.
Muzammil Aslam, Khyber Pakhtunkhwa’s Finance Adviser, praised the impressive performance of KPRA, particularly when contrasted with the Federal Board of Revenue’s (FBR) challenges in meeting its tax targets. He pointed out that while the FBR is facing difficulties, the KPRA has successfully exceeded its two-month target through an effective strategy.
Last year, KPRA collected Rs4.92 billion during the same period. This year, the authority significantly improved its collections, reflecting enhanced efficiency and strategic planning. Muzammil Aslam commended the KPRA team for their outstanding performance and acknowledged their efforts in reaching this milestone.
In related news, the FBR is grappling with a substantial shortfall in tax collection for August, missing its target by Rs113 billion. According to FBR sources, the tax authority collected Rs785 billion over the 30 days of August, falling short of the Rs898 billion target.
The FBR remains hopeful that revenue collection will increase on the final day of August, potentially reducing the overall shortfall for the month. However, the final revenue data for August will not be available until Monday.
In contrast, the FBR exceeded its revenue target for July, the first month of the current fiscal year, collecting Rs659.2 billion against a target of Rs656 billion. Combined, the total tax collection for July and August now stands at Rs1,445 billion.
