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 Excise collects Rs 406.28 million as professional tax in 8 months

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PostSubject: Excise collects Rs 406.28 million as professional tax in 8 months   Sat 14 Mar 2015, 10:27 am

LAHORE: The Excise and Taxation (E&T) Department has collected Rs 406.28 million as professional tax during July-February of the current fiscal year 2014-15.
As per the details, the department managed to improve its performance a little bit, as the tax collected was two percent more than the tax during the corresponding period of last fiscal year 2013-14, which was Rs 405.5 million.
The Punjab government has set a target of Rs 822.529 million for Excise and Taxation Department in the budget, whereas the department has barely achieved 41 percent of the target.
It is important to mention here that professional tax is levied on persons engaged in professions, trade or employment in Punjab. The Punjab Finance Act 1977 and the Punjab Professions and Trade Rules 1977 provide legal and regularity framework for this tax, while Article 163 of Constitution of Pakistan provides a constitutional cover to this tax and declares profession, trade or employment a provincial levy.
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