Altaf Hamid Rao.
MIRPUR (AJK), (Parliament Times) : Azad Jammu & Kashmir Inland Revenue Department (IRD) has successfully achieved the current fiscal year taxes target of Rs.20600 Million, set till the third quarter ending March 31, official sources said.
“This could be described the laurels of outstanding endeavours and performance of the AJK Inland Revenue Department that successfully accomplished – rather surpassed the assigned income tax targets in contrast difference of the Federal Board of Revenue (FBR) for the financial year 2020-21”, disclosed Sardar Zafar Mahmud Khan, Commissioner Inland Revenue Department of Azad Jammu & Kashmir government.
Elaborating, the IRD AJK chief told our Special AJK Correspondent Altaf Hamid Rao here on Friday that the income tax target of Rs.20600 Million was allocated to the department for financial year 2020-21, whereas the proportionate income tax target up to March, 2021 was equivalent to Rs.13390 million. But the Income tax target up to March, 2021 was not only achieved rather surpassed with unprecedented increase of Rs.2841 million with accumulated income tax collection of Rs.16231 million.
Sardar Zaffar Mahmud said that this substantial increase in income tax collection gives out percentage increase of 21% in given budgetary targets, which is a record breaking achievement and it has created landmark in the departmental history of Revenue collection.He further informed that only during March 2021, the income tax collection was Rs.1880 million (Rs.1.88 billion), which fact itself indicates the outstanding performance of Inland Revenue Department.
Commissioner Inland Revenue SardarZafar Mahmud Khan while referring to the outstanding performance of his department continued that during the fiscal year 2020-21, the Department had to face certain hindrances like lock down of Covid-19 suspension of trade and industrial activities and supressed investment trends in the area etc but despite all these ground realities, the departmental functionaries by adopting effective strategies/action plans and through implementation of enforced fiscal laws in an efficacious manner not only achieved the revenue figures rather surpassed the same with considerable difference, which is an apparent proof of departmental outstanding performance.
While giving a comparative picture of performance of Inland Revenue Department with that of Federal Board of Revenue towards revenue achievements, the Commissioner Inland Revenue further said that in FBR the growth rate of tax collection is 10% but in AJK the growth stands 24%.
The Commissioner Inland Revenue also specifically underlined the esteemed guidance and command extended by the Minister Inland Revenue AJ&K Sardar Farooq Ahmed Tahir, Dr. Syed Asif Hussain, Chairman Central Board of Revenue and Dr. Liaqat Hussain, Secretary Inland Revenue Department in way of successful attainment of income tax targets. “They have duly acknowledged the departmental efforts in recognition of this momentous achievement and expressed that the Department would continue the on-going successful pace of income tax collection in future too”, he added.
Lauding the untiring efforts of the officials of his department successfully securing the taxes target the AJK IRD Commissioner said that entire credit of substantial increase in income tax revenue collection also goes to the Officers and officials of the Department who have performed their duties with diligence and put in their maximum determinations for making possible the achievements of budgetary figures.
“In fact, it is the outcome of tireless efforts of entire departmental team who has benefited the public exchequer by collecting optimal tax revenue and also played their positive role in strengthening State economy”, he concluded.