After surpassing the revenue target of Rs 61 billion by achieving the collection of Rs 61.453 billion during the year 2015-16, the Sindh Revenue Board (SRB) shall now pursue the new assigned target of Rs 78 billion for the year 2016-17.
The SRB spokesman, in a press release, announced that the SRB has achieved yet another milestone by collecting Sindh Sales Tax (SST) amounting of Rs 6.403 billion only during the month of June 2016, which represents the highest ever amount of SST collected in any one single month ever since SRB started collecting SST in July 2011.
Giving the details, the SRB spokesman informed that SRB collected an amount of Rs 61.453 billion during the year 2015-16 against its collection of Rs 49.371 billion during the financial year 2014-15, representing a remarkable growth of 24.47 per cent.
He said that SRB is the only tax administration which has continuously achieved its assigned targets without any mid-year downward revision since 2011-12, the year it started collecting SST revenues despite the reduction in the statutory standard rate of sales tax.
He said that the SRB shall now pursue the assigned target of Rs 78 billion for the year 2016-17 and it expects to achieve the said target representing 28 per cent growth over the target of 2015-16 despite the further reduction in the standard rate of tax from 14 per cent in 2015-16 to 13 per cent on 2016-17.
