The provincial government has announced to introduce a universal vehicle number plate system from July 2022 in a bid to improve provincial revenue through increasing vehicle registration.
This was disclosed by Special Assistant to Chief Minister (SACM) on Excise and Taxation, Syed Ghazi Ghazan Jamal while briefing the media regarding the performance of his department in the past two years here on Thursday.
Flanked by SACM on Information, Kamran Bangash, Ghazi said that the tax ratio has been reduced for existing taxpayers, while initiatives have been made to bring new people under the tax-net.
He said the department has recovered Rs2billion on the head of various taxes so far in the current fiscal year, with an additional collection of over Rs180million as compared to the previous year, showing an increase of 143 per cent against the last year. “This shows that the tax collection ratio remained at 86pc during two quarters of the current financial year,” he added.
He said that the provincial government is working on a historic tax reforms agenda, adding that the concession on property tax has been increased from 10pc to 20pc, while the duration for benefiting from this discount has been increased from two to eight months.
