KPRA Surpasses Annual Tax Collection Target One Month Ahead

KPRA Surpasses Annual Tax Collection Target One Month Ahead – The Khyber Pakhtunkhwa Revenue Authority (KPRA) has achieved a significant milestone by surpassing its revenue collection target for the financial year 2023-24, a full month ahead of schedule.

The KPRA collected Rs 37 billion, exceeding the assigned target of Rs 35 billion, as disclosed during a Revenue Policy Board meeting chaired by Chief Minister Ali Amin Khan Gandapur on Thursday.

An official press release confirmed the achievement, highlighting the efficiency and effectiveness of the KPRA’s efforts. The meeting was attended by members of the provincial cabinet, administrative secretaries, and other relevant authorities.

During the meeting, detailed briefings were given on the steps, successes, and other pertinent matters related to the KPRA’s efforts to increase the provincial government’s income. The KPRA’s proactive strategies and initiatives were acknowledged as key factors contributing to the achievement.

For the current financial year 2023-24, the KPRA was tasked with a revenue collection target of Rs 35 billion. Surpassing this target by Rs 2 billion, the authority demonstrated its capability and commitment to enhancing the province’s revenue streams.

Looking ahead, the Revenue Policy Board set a more ambitious revenue collection target of Rs 47 billion for the next financial year 2024-25. This new target reflects the board’s confidence in the KPRA’s capacity to further boost revenue collection through strategic measures and innovations.

The meeting also included the approval of budget estimates for the KPRA for the new financial year and granted conditional approval to various proposed regulations aimed at further strengthening the authority’s operations.

Chief Minister Ali Amin Khan Gandapur, in his address, emphasized the importance of leveraging information technology to enhance transparency and capacity in tax collection processes. He directed that priority be given to the digitization of processes, especially in areas with the highest revenue generation potential. This digital transformation is expected to streamline operations, reduce inefficiencies, and improve overall tax collection.

Additionally, the Chief Minister instructed the KPRA to initiate steps to fill vacant positions within the authority to enhance its operational capacity. By addressing staffing needs, the KPRA can better manage its growing responsibilities and meet future targets more effectively.

The KPRA’s success in surpassing its annual tax collection target ahead of time underscores the authority’s robust operational framework and its crucial role in bolstering the financial stability of Khyber Pakhtunkhwa. With strategic initiatives and a clear focus on leveraging technology, the KPRA is well-positioned to meet and exceed its future targets, contributing significantly to the province’s economic growth and development.