Latest news with #KPRA
Business Recorder
02-07-2025
- Business
- Business Recorder
KPRA collects Rs51.56bn, surpassing target by Rs4.56bn
PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) has successfully collected Rs 51.56 billion against the target of Rs. 47 billion assigned to it by the provincial government for the financial year 2024-25. Despite the overall economic situation, the Authority has shown a growth of 37% in the fiscal year 2024-25 as compared to the collection of the financial year 2023-24, according to an official statement here on Tuesday. As per the details shared by the KPRA media wing, the Authority has collected Rs40.3 billion from the sales tax on services, and Rs11.26 billion from the Infrastructure Development Cess (IDC). The Authority worked on broadening its tax net and took its registered taxpayers' count to more than 25,100 by the end of this year, which also played a key role in the revenue collection growth. Director General KPRA, Fouzia Iqbal, appreciated the efforts and dedication of the KPRA staff in achieving the revenue targets set for the financial year 2024-25. She expressed gratitude to the Chief Minister Khyber Pakhtunkhwa, Ali Amin Gandapur, and Advisor to CM on Finance, Muzzammil Aslam, for their continued guidance and support which played a vital role in KPRA's success. She extended her heartfelt appreciation to the taxpayers of KPRA for their consistent trust and cooperation. 'Our taxpayers are the cornerstone of our revenue system. Their compliance and commitment have made this unprecedented achievement possible,' she said. Copyright Business Recorder, 2025
Business Recorder
16-06-2025
- Business
- Business Recorder
Collection of ST on services: KPRA registers 27.3pc growth
PESHAWAR: Khyber Pakhtunkhwa Revenue Authority (KPRA) has registered a growth of 27.3% in collection of Sales Tax (GST) on Services as compared to last fiscal year while Infrastructure Development Cess increased by 115%. By the end of the year, total collections by KPRA are expected to reach PKR 50.7 billion. In the first 10 months of FY 2024–25 (July to April), KPRA collected PKR 42.1 billion, showing strong performance, said a white paper on the budget for financial year 2025-26. The Khyber Pakhtunkhwa Revenue Authority (KPRA) was set up under the KP Finance Act, 2013 as an independent body to collect Sales Tax on Services and other provincial taxes. Over the years, KPRA has become an important institution on helping the province increase its own source revenues (OSR), bring more services under the tax net, and support better delivery of public services. This year, KPRA also expanded its tax base through the KP Finance Act, 2024. New sectors were added like healthcare, passenger transport, health insurance, and digital services. Tax rates were increased for restaurants and wedding halls, and the Cess rate was doubled and applied to exports and transit trade. These steps have helped improve collections and brought KPRA in line with modern tax practices. The following table highlights KPRA's revenue performance over recent fiscal years: Collection in FY 2023-24 is exclusive of the reimbursement of an amount of Rs. 4.1Bn received to the province from FBR on account of Cross Input Tax Adjustment. In the current FY no amount has been reimbursed from FBR. In FY 2024-25 (Jul-Apr), KPRA achieved a remarkable 27.3% growth in Sales Tax on Services (STS) collections and a 115% increase in Infrastructure Development Cess (IDC) reflect KPRA's concerted efforts in expanding the tax base, strengthening compliance, and implementing targeted enforcement measures. Tax Reforms and Sectoral Expansions As part of its reform agenda, KPRA introduced new taxable service sectors through the KP Finance Act, 2024, incorporated into the Second Schedule of the KP STS Act, 2022. These sectors and their revenue contributions include: Rationalizing tax rates for wedding halls – (Total Growth 40%) Increasing tax rate on Restaurants to 6% – (Total Growth 21%) Health Care Services – 30 Million Additional Digital Initiatives Transition from traditional return filing to the IRIS system, with the adoption of a Single Sales Tax Return (SSTR) for sectors like Oil & Gas and Microfinance Banks. Deploying the Restaurant Invoice Management System (RIMS) to enhance tax administration efficiency. Leveraging the existing provisions within the KP STS Act to encourage reporting of tax evasion, fostering a culture of accountability. Leveraging social media platforms to conduct awareness sessions, educating taxpayers on compliance requirements and benefits. Sourcing data from statutory bodies such as SECP, NADRA, and PTA to improve taxpayer identification and compliance monitoring. Implementing a Risk-Based Audit and focus on high-risk areas. Finalizing an MoU with the FBR and other provinces for data sharing, despite ongoing deliberations over discrepancies in the draft agreement. Consensus is expected soon, enabling seamless collaboration and enhanced revenue oversight. KPRA aims to invest in capacity building for its workforce, equipping them with advanced tools and trainings to handle emerging challenges in tax administration. This includes fostering partnerships with international organizations to adopt global best practices in revenue management. Copyright Business Recorder, 2025
Business Recorder
26-05-2025
- Business
- Business Recorder
Budget 2025-26: Traders for elimination of double taxation, cut in ST rate on services
PESHAWAR: Traders through various proposals for the Khyber Pakhtunkhwa fiscal budget for 2025-26, has urged the provincial government to abolish double taxation, especially property tax, easing process of KPRA audit, reduction in ratio of Sale Tax on Services, bringing reforms in trade and business-related institutions, and complete abolishment of provincial Infrastructure Development Cess on export, curtailing tax/fees of property registry and elimination of anti-business actions and make legislation, reforms through appropriate amendment and to present a business-friendly budget. Business community asserted deletion of harsh coercive provisions in the law governing business and industry in the provincial fiscal budget 2025-26, while emphasising on provision of subsidised SME financing through Bank of the Khyber, taking serious note over advance to deposit ratio 0.9 percent advance against 16 percent provincial deposit, besides made demand for pragmatic steps for ease of doing business, gas supply on priority basis to industrial consumers as per granted by the Constitution. Traders called for maximized provincial hydel power utilisation through early execution of transmission lines and adding 80-85 megawatt electricity into the grid station, besides proactive measures for maintenance of law and order and reduction of the heavy burden of various provincial taxes, war-footing initiatives for completion of the northern bypass and Ring Road, underpasses on identified locations in the city. SCCI presents budget proposals for FY 2025-26 Business community wanted immediate withdrawal, recently introduced by the provincial government Godown Act 2025. Legislation for institutionalising provincial department-based on the Dispute Resolution Council mechanism with representation of all relevant departments, stakeholders and business community in the forum should be carried out, traders demanded. It has been asked by the provincial government to incorporate SCCI proposals in the upcoming provincial budget 2025-26. These budget proposals presented during a joint meeting with Khyber Pakhtunkhwa Minister on Excise and Taxation Khaleequr Rehman, KP Minister for Revenue Nazeer Advisor to Khyber Pakhtunkhwa government on Finance Muzammil Aslam, SACM on industries Abdul Karim Khan here at the Sarhad Chamber of Commerce and Industry, which chaired by SCCI president Fazal Moqeem Khan. Office-bearers of the chamber, traders, industrialists and importers and exporters were present in a large number. Later, the provincial ministers and advisors of the KP government agreed with proposals and assured the SCCI and stakeholders to make appropriate amendments in harsh laws, policies as per constitution limits and also incorporate the business community proposals in the upcoming provincial budget 2025-26. Copyright Business Recorder, 2025
Express Tribune
03-05-2025
- Business
- Express Tribune
KPRA revenue soars 40% in 10 months
Charging higher taxes from non-filers of income tax returns has become a source of easy revenue generation, rather than expanding the tax base. photo: file The Khyber-Pakhtunkhwa Revenue Authority (KPRA) has collected Rs41.9 billion in the first ten months of fiscal year 2024-25, marking a 40 per cent increase compared to the same period last year. This surge reflects a substantial rise of Rs12 billion over the Rs29.9 billion collected during July-April 2023-24. According to figures released by the KPRA's media wing on Friday, the authority generated Rs32.4 billion through the Sales Tax on Services and Rs9.51 billion via the Infrastructure Development Cess (IDC). In the corresponding period last year, collections stood at Rs25.5 billion and Rs4.38 billion respectively, reflecting a 27 per cent growth in Sales Tax on Services and a remarkable 117 per cent surge in IDC revenue. KPRA Director General Fouzia Iqbal lauded the performance of her team, crediting the impressive growth to their dedication and strategic planning. 'With the same level of commitment and our strategic approach, I am confident we will surpass this year's target with good margins,' she said. She also expressed her gratitude to taxpayers for their trust, confidence, and cooperation, which have played a crucial role in KPRA's achievements.
Business Recorder
03-05-2025
- Business
- Business Recorder
KPRA collects Rs41.9bn in 10MFY2025
PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) has collected Rs41.9 billion in the first ten months of fiscal year 2024-25, marking a 40% increase compared to the same period last year. This surge reflects a substantial rise of Rs12 billion over the Rs29.9 billion collected during July-April 2023-24, according to an official communiqué, issued by KPRA here on Friday. According to figures released by the KPRA's media wing on Friday, the authority generated Rs32.4 billion through the Sales Tax on Services and Rs9.51 billion via the Infrastructure Developm ent Cess (IDC). In the corresponding period last year, collections stood at Rs25.5 billion and Rs4.38 billion respectively, reflecting a 27% growth in Sales Tax on Services and a remarkable 117% surge in IDC revenue. KPRA Director General Fouzia Iqbal lauded the performance of her team, crediting the impressive growth to their dedication and strategic planning. 'With the same level of commitment and our strategic approach, I am confident we will surpass this year's target with good margins,' she said. She also expressed her gratitude to taxpayers for their trust, confidence, and cooperation, which have played a crucial role in KPRA's achievements. Additionally, she acknowledged the support and guidance of Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur and Advisor to the CM on Finance Muzzammil Aslam, emphasizing that their leadership has been instrumental in implementing effective strategies and driving KPRA toward its goals. Copyright Business Recorder, 2025
