The Sindh Revenue Board (SRB) in Pakistan collected Rs18.01 billion in May 2023, an increase of 28.2% from the Rs14.05 billion collected in May 2022. During the first 11 months of the financial year 2022-23, the SRB collected Rs161.3 billion compared to Rs131.8 billion during the same time in the previous year, posting a 22.4% revenue growth. Despite the adverse effects of floods, economic slowdown, and low GDP growth, the SRB accomplished this performance, with help from taxpayers, the Government of Sindh, and SRB officers and staff. The SRB aims to collect Rs180 billion for the current financial year. In comparison, the Federal Board of Revenue (FBR) provisionally collected Rs559 billion in May 2023, Rs62 billion short of the monthly target of Rs621 billion, leading to a massive shortfall over Rs400 billion during 2022-23. The FBR has to collect over Rs1.4 trillion in June 2023 to achieve the increased tax collection target of Rs7.6 trillion for 2022-23. The Ministry of Finance stated that Pakistan’s economy experienced 0.29% provisional GDP growth in the fiscal year 2023 due to uncertain external and domestic economic conditions.

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By hassani

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