Karachi: The target of income tax, property tax, land revenue and professional tax could not be achieved in Sindh during the financial year 2023-24.
Direct tax collections were estimated at 8 billion 11 crores while during the financial year 3 billion 80 crores of rupees were collected. The target of direct taxes for the next financial year has been set at 11 billion 29 crores 70 lakhs rupees.
The Sindh government could not meet the target of 63 crore rupees for agricultural tax. Income tax of 2 billion rupees has been collected from the agricultural sector. A land revenue target of Rs 1 billion 30 crore has been set for the next financial year. The estimate of direct tax in the form of professional tax and trade and selling was one billion 94 crore 70 lakh rupees.
Meanwhile, despite the significant increase in excise tax from liquor stores in Sindh, the government of Sindh could not meet the estimate of excise tax. The provincial excise for the fiscal year 2023-24 was estimated at 12 billion 92 crore rupees, but the receipts remained at 8 billion rupees. 13 billion 92 crore rupees has been invested.
During the fiscal year 2023-24, an excise duty of one billion 85 crore 24 lakh rupees was collected on malt beer produced in Pakistan. .
Apart from this, the Sindh government has received 11 billion 69 crore rupees as compared to the estimate of 15 billion 54 crore rupees for motor vehicle tax during the fiscal year 2023-24, and an estimate of 16 billion 38 crore rupees has been estimated for the next financial year.
The Sindh government has received Rs 32 billion as stamp duty during the financial year 2023-24 against the estimate of Rs 49 billion and has set a target of Rs 52 billion for the next financial year. Received one billion ten crore rupees in the form of infrastructure cess, received one billion 34 crore rupees in the form of electric city duty.
In the next fiscal year, Electric City Duty is estimated at 3 billion 68 crore rupees, while the target of collection of 170 billion rupees has been set for Sindh Infrastructure Cess.
