Karachi: The Sindh Revenue Board (SRP) on Monday has announced a ‘one-time’ incentive for the tax defaulters to meet provincial revenue targets established in the budget for fiscal year (FY 2020-21), news sources reported. Upon the direction of Chief Minister Sindh (CM) Murad Ali Shah, this step was taken to meet the PKR 135 billion revenue target and increase the tax net.
Read: E-challan rolled out for property tax collection in Sindh
According to the press release, the tax default surcharges and liabilities will be waived off for the first 12 days of June. The tax defaulters only have to pay the principal amount before the deadline to avail the offer. Further explaining the scheme, the document notes that only 5% and 10% of the default surcharge is payable if the taxes are deposited before June 21 and 30 (respectively), while the penalties will still stand exempted. The step was taken at the request of business associations and the Sindh Chamber of Commerce & Industry.
Read: Sindh minister urges property tax defaulters to pay dues
The offer has come amid the demands of the Karachi and Hyderabad businessmen who urged the federal and provincial governments to exempt taxes for the current fiscal year in light of the pandemic-induced lockdowns.
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