SRB achieves highest ever monthly tax collection in December 2022

SRB achieves highest ever monthly tax collection in December 2022

KARACHI: The Sindh Revenue Board (SRB) has marked a historic milestone by achieving its highest-ever monthly tax collection in December 2022 since its inception in 2011.

According to a statement released on Monday, the provincial revenue authority recorded an impressive revenue collection of Rs17.6 billion during the month, showcasing a remarkable growth of 24% compared to Rs14.2 billion in the same period last year.

The statement highlighted that the revenue collection in December 2022 represents the highest-ever collection in any month during the first half of the financial year since the SRB commenced its Sindh Sales Tax collection in the fiscal year 2011-2012.

For the first six months of the financial year 2022-2023, the SRB achieved a total collection of Rs80.34 billion, surpassing the collection of Rs65.50 billion during the same period in the previous financial year 2021-2022. This signifies an impressive revenue growth rate of 23%.

The success in achieving a phenomenal revenue growth of 24% in December 2022 is attributed to multiple factors, including the sustained trust and cooperation of SRB taxpayers, unwavering support from the Sindh government, and the relentless efforts of SRB officers and staff.

The statement further emphasized the importance of taxpayer confidence, acknowledging the ongoing support and collaboration of businesses and individuals in meeting their tax obligations. The SRB expressed gratitude for the continuous commitment of taxpayers, highlighting their role in contributing to the economic development and well-being of the province.

Additionally, the unwavering support of the Sindh government has played a crucial role in creating an enabling environment for revenue generation. The government’s commitment to facilitating tax compliance and fostering economic growth has contributed significantly to the SRB’s ability to achieve record collections.

The dedication and hard work of SRB officers and staff were also recognized as essential components of this achievement. The statement commended their relentless efforts in implementing effective tax policies, ensuring compliance, and contributing to the overall success of the revenue collection process.

The record-breaking revenue collection by the SRB not only reflects its effectiveness in tax administration but also indicates positive economic trends within the province. The revenue growth provides essential funds for various developmental initiatives and public services, contributing to the overall progress and prosperity of Sindh.

As the SRB continues its efforts to enhance tax compliance and improve revenue collection mechanisms, such achievements underscore the importance of collaborative efforts between tax authorities, businesses, and the government in fostering a robust economic environment. The positive momentum in revenue collection sets a promising tone for the fiscal year, showcasing the potential for sustained economic growth in Sindh.