Saturday , February 23 2019
Home / Business and Finance / SRB to achieve Rs120 billion revenue target for 2018-19
KCCI presenting memento to Chairman SRB
KCCI presenting memento to Chairman SRB

SRB to achieve Rs120 billion revenue target for 2018-19

KARACHI: The Sindh Revenue Board (SRB) will be able to achieve Rs120 billion target set for the current fiscal year, ending June 30, 2019, of which around Rs44 billion had already been collected during July-December 2018, an official said.



Highlighting the overall performance of the revenue board during his visit to the Karachi Chamber of Commerce and Industry, SRB Chairman Khalid Mehmood informed that the board started operations from just Rs16.6 billion in 2010-11; followed by revenue collection of Rs25 billion in 2011-12, Rs33 billion in 2012-13, Rs42 billion in 2013-14, Rs49 billion in 2014-15, Rs61 billion in 2015-16, Rs78 billion in 2016-17 and Rs100 billion achieved in 2017-18, making it the single largest contributor to the provincial exchequer.

“During the last couple of years, SRB has witnessed a rise of 27 percent in its revenue collection because of the contribution, support and patronage of the business and industrial community of Karachi,” he added.

Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli, Vice Chairman BMG Tahir Khaliq, President KCCI Junaid Esmail Makda, Senior Vice President KCCI Khurram Shahzad, Vice President KCCI Asif Sheikh Javaid, Chairman GST/ SRB Subcommittee Shakeel-ur-Rehman and Managing Committee members were also present at the meeting.

Chairman SRB said that although the SRB has not been collecting sales tax on mobile phone services since last six months under the court’s order which created an unfavorable and disadvantageous situation yet the board was trying hard and was likely to achieve Rs120 billion target. “Currently around 29,000 taxpayers are registered with SRB and this number continues to rise every year,” he added.

SRB provides numerous online facilities to taxpayers including e-registration, e-filing, e-notices to non-filers, e-payments through online banking, and call center facility etc. “The Board is also integrated with NADRA, PRAL and other institutions while our system is completely centralized,” he said, adding that the success of SRB can be attributed to its automation and trained staff who provide full assistance to taxpayers and have also been promptly responding to all the queries.



In response to concerns expressed by Chairman BMG over issuance of notices to KCCI, Chairman SRB assured that they will come up with some kind of solution to this particular issue so that no further notices are issued to Karachi Chamber which, as an entity, is neither involved nor a source for any commercial activity.

Referring to Taxation issues being faced by indenters, tour operators and the construction sector, Chairman SRB said that all these taxation issues can be discussed further and amicably resolved while relief can be announced in the next budget. In this regard, he advised KCCI and other stakeholders to sit with SRB in order to come up with mutually acceptable solutions that result in providing relief to existing taxpayers and prove favorable in bringing more people into the tax net.

Check Also

Carfirst launches merchant programme to help auto industry entrepreneurs

KARACHI: CarFirst, Pakistan’s leading online auction and trading platform for used cars, launched its merchant …