Altaf Hameed Rao
MIRPUR :(Parliament Times) : The Inland Revenue Department of Azad Jammu & Kashmir has successfully achieved the revenue target set for realization of various forms of taxes for the just-ending fiscal year of 2018-19 against the stipulated target with record revenue achievement, official sources said.
The AJK Inland Revenue Department Commissioner Sardar Zaffar Mahmood Khan told in an interview to this Correspondent here on Monday that his department has successfully achieved the stipulated revenue target of Rs, 16.400 billion for the just-concluding financial year of 2018-19 securing Rs.16.500 billion by the stipulated date of June 30, 2019.
The Commissioner described it record revenue achievements by his department after the arrival of 13th amendment in the interim constitution of Azad Jammu Kashmir.
The details gathered by this Correspondent reveal that during the financial year 2018-2019, income tax target of Rs.16.400 million was fixed for the Department, which has not only been achieved rather surpassed substantially. The credit for this outstanding performance of the Department especially in the aftermath of 13th Constitutional Amendment goes to the Sardar Zafar Mahmud Khan, the Commissioner Inland Revenue under whose proficient skills and meticulous strategies, the Department has become abled to surpass the assigned target.
The tireless efforts of departmental officers and other staff members have also paved the way for successful achievement of budgetary targets. It is notable aspect that despite closure of hydel projects of Neelum Jhelum and Patrind and despite reduction in taxation rates of salaried individuals, enhanced revenue collection of Rs.4780 million is result of 13th Constitutional Amendment. During previous financial year, it had been brought on record in writing by the then Commissioner Inland Revenue deputed in AJ&K from FBR that owing to above facts, the annual collection would not be more
than Rs.12 billion but the considerate Government policies and capabilities of State Commissioner Inland Revenue have made possible the record revenue achievement of Rs.16.500 billion till June, 2019.
It is evident from record and figures that under the management of AJ&K Council, the income tax targets could never be achieved for last few financial years. For instance, during financial year 2016-2017, collection of Rs.13.267 billion was made against revenue target of Rs.15.150 billion with substantial shortfall of Rs.1.883 billion. Simultaneously, in financial year 2015-2016, shortfall of Rs.1 billion occurred as collection remained at Rs.12.875 billion against assigned target of Rs.13.875 billion.
For that reasons, deficient amounts were transferred to the Government as a result
of which the Government not only faced overdraft but also insufficient funds remained available with the Government for development plans. Beside these problems, the Government had to impose frequent financial bans.
During the financial year 2018-2019, the Department of Inland Revenue under the supervision and professional expertise of Sardar Zafar Mahmud Khan, Commissioner Inland Revenue has managed the enhanced revenue accumulation as against assigned targets. It is hoped that the Inland Revenue Department shall persist with its outstanding performance and shall perform an active role in way of strengthening
the State economy finically.
It is worth while to mention here that prior to 13th Constitutional Amendment, the ‘income tax’ was subject of AJ&K Council and accordingly the income tax collection was shared between AJ&K Government and AJ&K at 80:20 ratio. Till May, 2018, the Department under the management of AJ&K Council accumulated Rs.12.518 billion of income tax, in which the AJ&K Government tax share as per 80% was at Rs.10.014 Billion. It is worth mentioning here that the Department of Inland Revenue under the supervision of AJ&K Government since 2nd June, 2018 i.e. after 13th Constitutional Amendment has been able to accumulate revenue of Rs.14.793 billion till May, 2019, which comparatively gives out increase of Rs.4.780 billion against May, 2018.
