AIRLINK 175.73 Decreased By ▼ -2.19 (-1.23%)
BOP 13.12 Increased By ▲ 0.24 (1.86%)
CNERGY 7.54 Decreased By ▼ -0.04 (-0.53%)
FCCL 43.91 Decreased By ▼ -2.08 (-4.52%)
FFL 15.01 Decreased By ▼ -0.15 (-0.99%)
FLYNG 26.90 Decreased By ▼ -0.44 (-1.61%)
HUBC 130.23 Decreased By ▼ -1.81 (-1.37%)
HUMNL 13.34 Increased By ▲ 0.05 (0.38%)
KEL 4.50 Increased By ▲ 0.04 (0.9%)
KOSM 6.06 No Change ▼ 0.00 (0%)
MLCF 56.03 Decreased By ▼ -0.60 (-1.06%)
OGDC 214.77 Decreased By ▼ -9.07 (-4.05%)
PACE 5.98 Decreased By ▼ -0.01 (-0.17%)
PAEL 40.90 Decreased By ▼ -0.61 (-1.47%)
PIAHCLA 16.32 Increased By ▲ 0.31 (1.94%)
PIBTL 9.75 Decreased By ▼ -0.13 (-1.32%)
POWER 11.76 Increased By ▲ 0.60 (5.38%)
PPL 181.48 Decreased By ▼ -5.15 (-2.76%)
PRL 34.22 Decreased By ▼ -0.68 (-1.95%)
PTC 23.06 Decreased By ▼ -0.47 (-2%)
SEARL 95.72 Increased By ▲ 0.76 (0.8%)
SILK 1.14 No Change ▼ 0.00 (0%)
SSGC 35.45 Decreased By ▼ -0.05 (-0.14%)
SYM 15.75 Increased By ▲ 0.11 (0.7%)
TELE 7.87 No Change ▼ 0.00 (0%)
TPLP 10.98 Increased By ▲ 0.05 (0.46%)
TRG 60.50 Increased By ▲ 1.30 (2.2%)
WAVESAPP 10.81 Increased By ▲ 0.03 (0.28%)
WTL 1.35 No Change ▼ 0.00 (0%)
YOUW 3.77 Decreased By ▼ -0.03 (-0.79%)
BR100 12,054 Decreased By -76.5 (-0.63%)
BR30 36,467 Decreased By -778.6 (-2.09%)
KSE100 114,356 Decreased By -42.4 (-0.04%)
KSE30 35,347 Decreased By -110.8 (-0.31%)

LAHORE: The Punjab Revenue Authority (PRA) has tightened its grip on wedding halls and event complexes in Lahore by launching a crack down on those operating without registration or failing to pay taxes.

Recently, a team led by Commissioner Misbah Nawaz, along with Audit Officers Hamza Pervez and Ali Haider Chughtai, and Enforcement Officer Maryam Khan, conducted surprise raids on prominent wedding halls in Gulberg, Nishtar Town, and Samanabad to verify their registration status.

These raids were part of a broader initiative to enhance tax compliance in Lahore, which includes monitoring over 170 major development projects, ensuring timely payment of Punjab Sales Tax, and raising awareness about withholding tax rules and Punjab Sales Tax on Services. The PRA has allocated approximately 20 officers specifically for this monitoring initiative.

The team found several unregistered wedding halls, as well as registered ones that had failed to pay taxes. As a result, the PRA has issued show-cause notices to these establishments, giving them a one-week deadline to comply.

If they fail to register or pay taxes within the given timeframe, they face severe penalties, including imposition of penalties and strict legal action, including sealing of premises.

It’s worth noting that the PRA has fixed a 5% tax on banquet halls, including marriage halls, marquees, or any similar businesses. This tax rate is subject to conditions and restrictions, and arrears of sales tax from May 22, 2013, onward must be paid within a month of issuance of the notification.

The PRA’s efforts aim to improve tax compliance within the public sector and ensure that crucial development projects contribute their fair share of revenue.

By stepping up efforts to ensure timely tax collection, the PRA is sending a clear message that tax evasion will not be tolerated.

Copyright Business Recorder, 2024

Comments

Comments are closed.