MIRPUR (Kashmir English): The Azad Jammu and Kashmir’s (AJK) Inland Revenue Department (South Zone) has shown excellent performance, exceeding the revenue target of Rs 41 billion by the end of the 2nd quarter of the fiscal year 2024-2025.
According to the statement issued by IRD Mirpur Division, the department collected Rs 44.10 billion by the end of March 2025, exceeding the set target of Rs 41 billion by Rs 3 billion.
The South Zone of the Inland Revenue Department, which covers the Mirpur Division, has been assigned an annual target of Rs 63.35 billion by the government to collect in taxes.
The South Zone collected 70 per cent of the tax by the 2nd quarter, from January to March, against the target of 65 per cent, a senior IRD-AJK official said.
As per details, the revenue collected this year by the end of March was 15% as compared to the revenue collected in the last fiscal year of 2023-2024, which was Rs 38.44 billion.
“The collection is unprecedented in the history of the department and is a clear proof of the high performance of the South Zone,” the press release read.
The press release further stated that the department has changed the tax rates to the of salaried persons as per the amendments made in the Azad Jammu and Kashmir Finance Act, 2024.
Furthermore, the IRD maintained that the tax collecting body faced a shortfall of billions of rupees in the collection of sales tax due to the government’s relaxation in electricity rates.
The department also faced a significant decrease in tax collection due to the reduction of 22% to 12% in police rates by the State Bank of Pakistan (SBP), the statement added.
According to IRD, despite the relaxation, every effort will be made to surpass the annual target assigned for FY 2024-2025.
In this regard, the spokesperson said that the last quarter of the current FY has begun, and the South Zone has formulated an effective strategy to successfully achieve the given target.
