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Sindh Revenue Board exceeds budgetary targets, collects Rs 49m

Sindh Revenue Board exceeds budgetary targets, collects Rs 49m

KARACHI: Sindh Revenue Board has emerged to be the tax authority that has exceeded its budgetary targets by collecting Rs 49 billion, above 24 percent from last year, said the Finance Minister for Sindh, Syed Murad Ali Shah on Saturday.

Citing the performance of STB as exemplary, the Minister in his budget speech said that despite a reduction in the standard rate of sales tax from 16 percent to 15 percent SRB has consistently demonstrated 25 percent to 35 percent growth every year.

Murad Ali Shah said SRB has devised  a programme to substitute the existing positive list of taxable services with a negative list implying that all services will be liable to tax except the ones specified in the  negative list schedule