KARACHI: The collection of sales tax on services by Sindh Revenue Board (SRB) has increased by 21 per cent to Rs132 billion during first 11 months (July – May) 2021/2022.
According to official data released on Wednesday, the SRB collected Rs132 billion during first eleven months of the current fiscal year as compared with Rs109 billion in the corresponding period of the last fiscal year.
The provincial revenue authority still needs tax collection of around Rs18 billion in the last month i.e. June 2022 in order to achieve Rs150 billion collection target for the fiscal year 2021/2022.
The SRB likely to surpass the revenue collection target for the outgoing fiscal year as its monthly collection witnessed an impressive growth.
The provincial revenue authority collected Rs14.05 billion in the month of May 2022 as compared with Rs10.26 billion in the corresponding month of the last year, showing an increase of 37 per cent.
The Sindh province was the first to start the collection of sales tax on services by legislating Sindh Sales Tax on Services Act, 2011.