Islamabad: The Islamabad Capital Territory (ICT) has made notification of a significant increase in taxes collected during Tax Year 2019; when contrasted with the annual tax sums generated during the previous five years, a news source reported. During the said year’s time frame, the ICT administration recorded the receipt of PKR 220 million in accrued taxation.
Islamabad Deputy Commissioner (DC) Muhammad Hamza Shafqat
stated that ICT administration remained successful in the collection of Capital
Value Tax (CVT).
He revealed that during the five years before 2019, ICT’s tax collection had remained below PKR 10 million. Meanwhile, the DC added that they have set the tax collection target for 2020 around PKR 1 billion, and ICT was hopeful of achieving this goal.
ICT officials also stated that they were now making recoveries of the arrears after getting the cases filed against CVT cleared from the courts. They expressed the hope that they would reach their tax collection target for the ongoing year by December 31.
Moreover, according to reports, the tehsil office collected
PKR 17 million in advance tax and PKR 4 million in capital gains tax during the
first six months of the previous year.
