AJK IRD Achieves FY 2018-19 Record Taxes Target Collects Revenue Of Rs.16.500 Billion Against Set Target Of Rs. 16.400 Billion:

AJK's taxes realizing Institution - The Inland Revenue Department has achieved the revenue target set for collecting various forms of taxes for the financial year of 2018-19 against the stipulated target with record revenue achievement, authoritative official sources said

MIRPUR (UrduPoint / Pakistan Point News - 2nd Jul, 2019 ) : AJK's taxes realizing Institution - The Inland Revenue Department has achieved the revenue target set for collecting various forms of taxes for the financial year of 2018-19 against the stipulated target with record revenue achievement, authoritative official sources said.

The AJK Inland Revenue Department Commissioner Sardar Zaffar Mahmood Khan told APP here late Monday that his department successfully secured the stipulated revenue target of Rs, 16.400 billion for the just-concluding financial year of 2018-19 collecting 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.

It is worth while to mention here that prior to 13th Constitutional Amendment in interim constitution (Act -1974) of AJK, 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 may also be added 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.

APP / AHR