MIRPUR (AJK), (Parliament Times) : The Mirpur South Zone of the State-run AJK Inland Revenue Department has exceeded the target assigned by the end of the March quarter of the financial year 2024-2025 by an surplus of Rs 3 billion.
The spokesperson of the Inland Revenue Department (South Zone), Mirpur Division told APP here Wednesday that the South Zone of the Inland Revenue Department has been assigned an annual target of Rs 63.35 billion by the government this year in various tax areas and accordingly, the target was Rs 41 billion at the end of the March quarter of 2025, in response to which the South Zone received a total revenue of Rs 44.10 billion with an excess of Rs 3 billion.
A comparison of the figures shows that the South Zone collected 70% of the tax by the March quarter against the target of 65%, which proves the excellent performance of the South Zone of the Inland Revenue Department, said the spokesperson.According to the figures, the revenue collection of the South Zone by the March quarter of last year 2023-2024 was Rs 38.44 billion, compared to which during the current financial year, the South Zone collected a tax revenue of Rs 44.10 billion with a huge margin of Rs 5.5 billion, which is 15% more than last year, which is unprecedented in the history of the department and is a clear proof of the high performance of the South Zone.
He further stated that the amendments made to the tax rates of salaried persons under the Azad Jammu and Kashmir Finance Act, 2024 were in force in the region and tax was being charged as per the proposed volume.
It may be recalled that the Inland Revenue Department was also facing a shortfall of billions of rupees in the collection of sales tax due to the government’s relaxation in rates for electricity.
In addition, the spokesperson continued, the State Bank has reduced the policy rates of banks from 22% to 12%, due to which there has been a significant decrease in tax collection. However, despite this, by utilizing all means, not only will it be possible to increase tax revenues, but every effort will be made to surpass the annual target assigned at the end of the financial year 2024-2025.
In this regard, the spokesperson clarified that the June quarter has begun and the South Zone has formulated an effective strategy to successfully achieve the given target.
“Furthermore, the officers and officials of the Inland Revenue Department are working day and night with utmost dedication and hard work on major and important sectors of tax revenue, the fruits of which will be revealed in the form of successfully exceeding the annual target at the end of the current financial year”, the spokesperson said adding that higher archie of the CBR AJK and IRD, have also appreciated the excellent performance of the South Zone till the March quarter and expressed the hope that the departmental team will continue its work with the same passion and hard work and the Inland Revenue Department will continue to play a key role in the financial and economic stability of the state”, the Spokesperson concluded.
