Altaf Hamid Rao
Azad Jammu Kashmir achieved major breakthrough in the tax-realization history of the State after the State Department of Inland Revenue successfully achieved the target of the income tax collection during the first three quarters of current fiscal year, official sources said.
The AJK Inland Revenue Department shown the remarkable performance by surpassing the assigned budgetary targets by giving unprecedented increase of more than 20%, official sources said.
Unveiling the break-up of the successful realisation of the target of the levies with attractive surplus volume of amount during 3rd quarter of the ongoing fiscal year 2018-19, Commissioner Inland Revenue AJK Sardar Zaffar Mahmood Khan, also head of the department, told APP here on Saturday that the overall budgetary target of Rs.22760 million has been assigned to the Inland Revenue Department for the financial year 2018-2019.
The target, Zaffar continued assigned for first three quarters of current financial year for direct taxes was equivalent to Rs.10660 million, against which the Department managed to collect revenue of Rs.11288 million with significant increase of Rs.622.169 million.
It would be pertinent to mention here that in case of Income Tax there is substantial revenue increase of Rs.1881million as against previous year’s collection of Rs.9407 million with 20% growth rate. “The AJK government had fixed the target of provincial taxes at Rs.4235 millions for first three quarters of current financial year, whereas collection was equivalent to Rs. 4336 million. It means that there was an increase of Rs.101millions”, the Commissioner said. The above achievement of the realization of the set levies target with surplus amount is the ample proof of an unprecedented and record increase”, a high level meeting chaired by AJ&K Prime Minister Raja Muhammad Farooq Haider Khan late Friday observed.
The meeting highly appreciated the performance of three-quarterly revenue collection of Inland Revenue Department of AJ&K which was described splendid. The Prime Minister particularly lauded the high professional skills and role of the Commissioner Inland Revenue Department of AJK Sardar Zaffar Mahmood Khan for successfully securing the set target of realisation of the taxes with a surplus volume of amount in the third quarter similar to earlier two quarters of the ongoing financial year.
Highly lauding the outstanding performance of the Inland Revenue Department the meeting observed that the department only achieved given revenue targets but surpassed with substantial increase.
The high-level meeting was attended by Mr. Mathar Niaz Rana, Chief Secretary, Farid Ahmed Tarar, Secretary Finance, Sardar Zafar Mahmud Khan, Commissioner Inland Revenue/ Head of Inland Revenue Department and Ch. Asim Shoukat, Commissioner Inland Revenue Department (Provincial Taxes).