The Punjab Revenue Authority (PRA) recorded a 16.16% year-on-year and 19% month-on-month growth in revenue collection in December 2024.Â
For the first half of FY25, the authority collected Rs118 billion, marking a 10.35% rise compared to the same period last year.
Key contributors included an 8% increase in sales tax on services, a 25% rise in the Punjab Infrastructure Development Cess, and a 76% surge in the Punjab Workers Welfare Fund.
“This growth was achieved without introducing new taxes or raising tax rates,” the PRA said in a statement, crediting targeted workshops, taxpayer engagement, and a broadened tax base for consistently meeting collection targets. The authority expressed confidence in surpassing its targets for the current fiscal year.
A significant development was the launch of the PRA-IRIS system for tax return filing, promoting transparency and paperless operations. The integration of PRA’s Electronic Invoice Monitoring System (eIMS) with the Federal Board of Revenue’s (FBR) Point-of-Sale system further streamlined tax data management and compliance.
Additionally, the fiscal year saw the extension of the single sales tax return to the oil, gas, and microfinance sectors, simplifying tax filing for inter-provincial businesses. Moving forward, the PRA aims to expand this initiative to other sectors, enhancing convenience for taxpayers while bolstering revenue collection efforts.
