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The event was organised by the Finance Department Sindh in collaboration with the Institute of Business Administration (IBA) at a hotel, which was attended by government officials, students, tax professionals and others Speaking on the occasion, Murad Ali Shah, Advisor to Chief Minister Sindh for Finance and Energy, said that tax collection is gaining importance in resource generation mechanism. He said that provincial government is targeting revenue generation through Sindh Revenue Board (SRB), Excise and Taxation Department and other relevant departments We have set tax collection target of Rs 92 billion for the current financial year, he said, adding that SRB is gradually increasing revenue targets since its inception. Murad Ali Shah said that Sindh would increase its tax collection up to Rs 200 billion per annum in next three years "So far, SRB has collected Rs 101 billion since the year 2010-2011," he informed the participants. He said that cabinet meeting also discussed the implementation of agricultural income tax. "Sindh government would rationalise the agricultural income tax in order to facilitate the agriculture sector," he added. Shershah Khan, of World Bank (WB), said Sindh has set a new benchmark in collection of tax on services. "SRB has emerged as a trend-setter for other provinces," he said, adding that the challenge for Sindh is to maintain its performance in tax collection on services Qazi Mansoor, of IBA, said that IBA could provide academic support to government in its endeavour to enhancing revenue receipts. "IBA and other institutions have already conducted wide range of surveys on the particular subject IBA can do more research and survey for provincial government to enhance tax collection". he said. Chairman SRB, Tashfeen K Niaz informed the participants that SRB has emerged as largest tax collection authority, adding that it has so far collected Rs 101 billion during last two and half years. No human interaction is involved in the system which has made the system transparent, he said; adding that concept of SRB is to be more a tax advisor than tax collector. He said SRB has established state of the art data system. "It is our priority to work with stakeholders like federal government, government of Sindh, international agencies, FBR and, Punjab Revenue Board. He said SRB has set a target to enhance its tax receipts amounting to Rs 100 billion by the end of the FY-2017. "SRB collected Rs 18 billion in 2010-2011, Rs 25 billion in 2011-2012, Rs 34 billion in 2012-2013," he said, adding that board has for collected Rs 24 billion during the year current fiscal against its target of Rs 42 billion. He said that SRB has also registered 790 new taxpayers. Citing the SRB's five pronged reform policy he said that board would strengthen its co-ordination with federal government. SRB will activate already registered but dormant taxpayers, expand taxpayers net form 6000 to 10,000 and beyond, to bring unregulated sector into tax system. Shoaib Ahmed Siddiqui, Director General Excise and Taxation Sindh, said that his department has significant achievements during the last five years "We have increased 155 percent in our tax receipts. In the year 2007-2008 the annual collection was Rs 10.5 billion but in 2012-2013 departments' receipts were 27.007 billion," he informed. He said department has set target of Rs 32 billion this year, of which Rs 18 billion has been collected till December 2013. He hoped that department would attain its annual target of Rs 32 billion. He said that excise and taxation department could increase its collection by improving performance in collection of property and professional tax. "We will conduct survey to improve receipts under the head of property tax," he added He said that Excise and Taxation Department is completely computerised and automated. He said that potential increase in tax based revenue of the department is estimated Rs 28 billion. Official of the Board of Revenue Sindh gave presentation on his department's performance. Tax expert Shahbar Zaidi also spoke on the occasion. |
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