PRA sets new record with Rs22.21bn tax collection in Jan 2025

Lahore: The Punjab Revenue Authority (PRA) achieved a record tax collection of Rs22.21 billion in January 2025 under Punjab Sales Tax, compared to Rs18.39 billion in January 2024, reflecting a 21% growth.

PRA has collected Rs142 billion in tax revenue during the current fiscal year, marking a 12% increase compared to the previous year. Punjab Sales Tax saw a 10% growth, the Punjab Infrastructure Development Cess grew by 30%, and the Punjab Workers Welfare Fund experienced a 46% increase during the same period. Notably, no new taxes or tax rate increases were introduced this fiscal year. Instead, PRA achieved its tax targets through stakeholder engagement, taxpayer awareness workshops, and tax base expansion. The authority remains optimistic about surpassing this year’s tax target.

A major step towards modernization, IRIS, an advanced tax return filing system, was introduced to enhance transparency and promote a paperless office environment. Furthermore, the integration of PRA’s Electronic Invoice Monitoring System with the FBR’s Point of Sale (POS) system is expected to streamline access to tax data. The Single Sales Tax Return has also been extended to the oil & gas, microfinance banks, insurance, and banking sectors, with further expansion planned. To facilitate taxpayers, PRA, with the support of the Punjab government, is set to introduce the Single Sales Tax Return facility for other interprovincial business sectors.

Additionally, PRA has devised a strategy to tighten monitoring of unregistered taxpayers in collaboration with the Punjab government. Additional Deputy Commissioners (General) at the district level and Assistant Commissioners at the tehsil level will collect data on unregistered entities, ensuring their identification and inclusion in the tax net.