Punjab government mulls launching new tax collection system across the province
ISLAMABAD - Punjab government mulls launching new tax collection system across the province.
Punjab government is contemplating the introduction of a unified tax collection system in the province. The unified system will streamline the tax collection process and facilitate the taxpayers.
At the moment, Punjab Revenue Department, Excise and Taxation Department, and local administrations collect taxes in Punjab.
On Sunday, Finance Minister of Punjab, Makhdoom Hashim Jawan Bakht, headed a meeting of Punjab Revenue Authority (PRA). Bakht said that a special tax management unit will be set up at the Punjab finance department that will unify tax collection all across the country.
Under the new system, clarifications will be made on tax-related litigation and general sales tax (GST) on service-related matters.
The Finance Minister has also sought input from the business community to help make the unified tax collection system effective.
Emphasizing the need for a unified system, Bakht briefed the meeting about the tax reforms undertaken by the incumbent PTI government. The scope of the tax reforms will be extended to all services. Moreover, services exempted from taxes will also be clarified under the latest reforms.
The unified collection system and the latest reforms will streamline the tax collection process and bring more businesses and common citizens under the tax net. The tax reforms will facilitate setting up new businesses, further improving Pakistan’s Ease of Doing Business rating.
The finance minister directed tax officials to furnish tax clearance certificates and audit reports to the taxpayers.