KARACHI: Sindh Revenue Board (SRB) has collected Rs 17.2 billion – as sales tax – during the first quarter of the financial year 2016-17.
The collection of Rs 17.2 billion of sales tax represents a growth of 16% as compared to the revenue of Rs 14.8 billion collected during the first quarter of 2015-16, despite the reduction of one per cent in the standard rate of the tax from 14% in 2015-16 to 13% 2016-17, said a statement.
The SRB expects to achieve a target of Rs.78 billion as assigned for 2016-17 despite the aforesaid reduction in rate. The revenue board acknowledges that its recent revenue collection performance was due to the continued trust, cooperation and confidence of its taxpayer, the continued support and assistance by the provincial government and the relentless efforts, devotion and reduction of its employees.
