The Khyber Pakhtunkhwa Revenue Authority (KPRA) has achieved a record tax collection of Rs7.1 billion in the first two months of the current fiscal year, marking a 44% increase compared to the same period last year.
Khyber Pakhtunkhwa's Finance Adviser Muzammil Aslam highlighted the remarkable performance of KPRA, contrasting it with the challenges faced by the Federal Board of Revenue (FBR) in meeting its tax targets.
He noted that while the FBR is struggling, the KPRA has successfully surpassed its two-month target through an effective strategy.
Last year, KPRA collected Rs4.92 billion in the first two months, but this year, they have significantly boosted their collections, reflecting the authority's improved efficiency and strategic planning.
Muzamil Aslam congratulated the KPRA team for their outstanding performance, recognizing their efforts in achieving this milestone.
Also Read: FBR faces Rs113 billion shortfall in August tax collection
This achievement underscores the KPRA's growing role in the province's financial stability and its commitment to enhancing revenue generation through better governance and fiscal management.
The Federal Board of Revenue (FBR) is grappling with a significant shortfall in tax collection for the month of August, falling Rs113 billion short of its monthly target.
According to sources within the FBR, the tax authority managed to collect Rs785 billion in the 30 days of August, against a set target of Rs898 billion.
The FBR is hopeful that revenue collection will increase on the final day of August, which could help reduce the overall shortfall for the month. However, the final data for August's revenue collection will not be available until Monday.
In contrast, the FBR exceeded its revenue target for the first month of the current financial year in July, collecting Rs659.2 billion against a target of Rs656 billion in July. Combined, the total tax collection for July and August stands at Rs1,445 billion.
