Latest news with #KhyberPakhtunkhwaRevenueAuthority
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
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
Express Tribune
07-02-2025
- Business
- Express Tribune
K-P tax collection soars by 46%
PESHAWAR: Advisor to the Khyber Pakhtunkhwa Chief Minister on Finance and Interprovincial Coordination, Muzzamil Aslam, announced that the Khyber Pakhtunkhwa Revenue Authority (KPRA) has increased tax collection by 46%. He stated that tax collection from July to January reached an impressive Rs28.92 billion, reflecting a significant 46% rise compared to the previous year. This substantial growth highlights the province's strengthening economy and the government's commitment to fiscal responsibility. The advisor further noted that non-tax revenue in Khyber Pakhtunkhwa exceeds 55%, which will push the overall revenue growth beyond 50%. This achievement is attributed to the government's diversified revenue streams and effective financial management. Aslam expressed his gratitude to Chief Minister Ali Amin Gandapur for his continuous support and congratulated the KPRA Director General Fozia Iqbal and other staff on collecting additional taxes. Their hard work and dedication have been instrumental in achieving this milestone. it may be recalled that in January this year KPRA announced that it collected Rs24.2 billion in the first six months of the financial year 2024-25, marking an impressive 45 per cent growth compared to the same period last year. Last year it collected only Rs16.7 billion in the first six months which shows Rs7.5 billion increase in revenue. As per details shared by the KPRA's media wing, the Authority has collected Rs18.15 billion from the sales tax on services, and Rs6.07 billion from the Infrastructure Development Cess (IDC). Last year, collections from sales tax on services amounted to Rs14.6billion, while Rs2.1billion was collected from the IDC, reflecting a 24 per cent growth in sales tax on services and an astonishing 189 per cent growth in IDC. Director General KPRA, Fouzia Iqbal, praised the dedication and hard work of the KPRA team, which has resulted in an impressive performance over the past six months. She expressed her confidence that with sustained efforts, not only will the annual revenue target be achieved, but it will also be exceeded significantly. "With the same level of commitment and our strategic approach, I am confident that we will surpass this year's target. And by the end June, KPRA will once again stand out as a beacon of excellence in performance," she remarked. The Director General also extended her gratitude to taxpayers for their trust, confidence, and cooperation, which have been instrumental in KPRA's achievements so far. Additionally, she acknowledged the support and guidance of Chief Minister and Advisor to the CM on Finance. Their leadership, she noted, has been pivotal in enabling KPRA to implement effective strategies and move closer to its objectives. She said that tax collection increased despite the fact that country has been faced with an economic recession.
