Mirpur (Hayat News) Inland Revenue Department (South Zone) Mirpur Division demonstrated high performance. The South Zone exceeded the target assigned at the end of the March quarter of the financial year 2024-2025 by an excess of Rs 3 billion.
The spokesperson of the IR Dept (South Zone), Mirpur Division said in a press release that the South Zone of the IR Dept has been assigned an annual target of Rs 63.35 billion by the government this year in various tax areas and accordingly, at the end of the March quarter of 2025, the target was Rs 41 billion, in response to which the South Zone collected 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.
According to the figures, the revenue collection of the South Zone by the March quarter of 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.
The press release further stated that the amendments made to the tax rates of salaried persons under the Azad Jammu and Kashmir Finance Act, 2024 are in force in Azad Kashmir and tax is being charged as per the proposed rate.
It may be recalled that the IR Dept is 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 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 IR Dept 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.
Senior officials have also appreciated the excellent performance of the South Zone till the March quarter and expressed 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.
