Sindh, the target of income tax on agricultural income could not be met

Karachi: The Sindh government has failed to achieve the target of income tax on agricultural income this fiscal year as well, neither has it imposed any new tax nor increased the tax rate.

In the current financial year, the target of income tax on agricultural income has been set at 3 billion rupees, but the collection was limited to only 90 crore rupees.

Income tax collections on income from agriculture remained negligible compared to potential, but on the other hand, collections of 8 billion rupees were made from provincial excise (most of which comes from the sale of medicinal spirits including beer and wine). The Sindh government failed to achieve most of the other tax targets except the target of 180 billion rupees for sales tax on services and the target of 14 billion rupees for motor vehicle tax.

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According to the budget documents, a tax of 5 billion 24 crore rupees was collected from the sale of spirits and liquor (alcoholic products) in provincial excise, 1 billion 15 crore rupees were collected from alcohol sold for medical purposes, excise fines, excise on services. And 8 billion rupees were collected by adding excise on advertisements, but the target of 12 billion rupees could not be achieved.

The government of Sindh received 80 crore rupees through property registration, but the target of 90 crore rupees could not be achieved. The target for the next financial year has been set at 1 billion 32 crore rupees. 22 billion rupees have been set, one billion rupees have been collected in the form of profession tax, the target for the next financial year has been set at 1 billion 94 billion rupees, the target of provincial tax on services has been achieved at 180 billion rupees, the target for the next financial year has been set at 235 billion rupees. went.

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The Chief Minister of Sindh added 55 billion rupees considering the achievement of the target and further possibilities. The Sindh government has collected a tax of 14 billion 54 crore 40 lakh rupees against the target of 14 billion rupees for motor vehicle tax in the current financial year. The target of vehicle tax collections has been set at 15 billion 54 crore rupees.

The government has not imposed any new taxes or revised any tax rates, indicating that the government is hoping for higher tax collections during the next fiscal year due to the recovery in economic activity.