KARACHI: Sindh Revenue Board (SRB) has registered 22.7 percent growth in collection of sales tax on services during the month of March 2021 despite adverse effect of coronavirus on businesses.
According to data released by the provincial revenue authority, the collection was Rs11.46 billion in March 2021 as compared with Rs9.34 billion in the same month of the last year.
“The growth in revenue is phenomenal when viewed in the context of coronavirus effect on the businesses and the general slowdown of economy,” according to a SRB statement.
During first three quarters of fiscal year 2020/2021, the SRB collected an amount of Rs88.54 billion as compared with Rs77.9 billion in the first three quarters of 2019/2020, showing a growth of 13.66 percent.
The SRB attributed the revenue growth of 22.7 percent during March 2021 to the continued trust and cooperation of taxpayers, the continuous support by the Sindh government and the relentless efforts of the SRB officers and the staff.
The SRB is focusing on assigned revenue collection target of Rs135 billion for the current fiscal year, despite the adverse factors such as low economic growth and the resurge of COVID-19.