Chairman's Message

As we conclude Fiscal Year 2023-24 and recollect the facts, the remarkable journey and milestones achieved by the ever-successful Sindh Revenue Board (SRB), during the year, fills me with deep sense of pride and accomplishment. The year has been transformative, marked by significant achievements and an unwavering commitment to our mission amidst a complex economic landscape.
For FY 2023-24, SRB was assigned an ambitious revenue target of Rs. 230 billion as against the actual collection of Rs. 185 billion during FY 2022-23 implying a target requiring revenue growth of (+) 24% which was not only met but was also surpassed by achieving revenue collection of Rs. 237 billion depicting a growth of (+) 28%. One of the highlights was the record-breaking collection of Rs. 28 billion in June 2024, setting a new benchmark for monthly collections.
SRB also made extraordinary collection of over Rs. 14 billion on account of SWWF/SWPPF during FY 2023-24, the ever-highest collection despite mounting litigations and limited workforce. The Fund amounts serve as major source for fulfilment of Government’s objective of providing welfare to the labour force and their family members.
FY 2023-24 presented several challenges that tested our resolve. The economic environment was marked by low GDP growth, ongoing and ever-increasing litigations, and a tax-free budget that restricted our ability to adjust tax rates or expand the tax base. In response, SRB adopted proactive approach by reinforcing audit capabilities, enhancing enforcement measures, and leveraging technological innovations. These efforts not only helped us mitigate the impact of of external challenges but also resulted in profound performance throughout the year.
Additionally, our efforts to address taxpayers' concerns and to provide necessary facilitation were well-received which fostered a more conducive environment for businesses.
SRB's active participation in the World Bank Roundtables aiming at harmonization of sales tax regime in Pakistan and also timely coordination with other Sales Tax Authorities resulted in key achievements including implementation of a single portal/single return which has not only simplified tax compliance but has also reduced the cost of compliance for the taxpayers.
As we move into FY 2024-25, we face a new set of opportunities and challenges. In recognition of SRB’s capabilities and consistent performance, it has been assigned ambitious revenue target of Rs. 350 billion for FY 2024-25. This target is supported by our strategic initiative to broaden the tax base by incorporating new services into the tax net through the Sindh Budget 2024-25. Our focus for the upcoming fiscal year will include continuing to leverage technological innovations, enhancing enforcement measures, and fostering a supportive environment for businesses. We are hopeful that with our dedicated team and strategic approach, we will achieve the target and continue to contribute to the economic prosperity of Sindh.
I would like to extend my gratitude to Chief Minister Syed Murad Ali Shah for his support, guidance and leadership. His guidance has been instrumental in our success and has ensured that SRB operates with the highest standards of fairness and transparency. I also want to acknowledge the invaluable contributions of our taxpayers. Their cooperation and trust are essential to our success, and SRB remains committed to providing them with the best possible services to facilitate their business operations. Furthermore, I express my appreciation for the support of the Finance Department and other Government departments. Their collaboration has been crucial in achieving our objectives and advancing our mission.