PRA collects Rs 5.72 billion sales tax

The newly established Punjab Revenue Authority has managed to collect Rs5.72 billion sales tax during July and August this year on 14 services covered under the Punjab Sales Tax Ordinance despite a confusion between PRA and FBR on the payment mode, a Finance Department spokesperson said here on Sunday.
He said that the PRA had not yet closed accounts for July and August because tax payers were still depositing due tax on transactions invoiced during this period. In its formative phase, PRA was facilitating taxpayers, providing guidance.
The spokesman said that several of its taxpayers had inadvertently deposited the tax with the FBR. The Punjab government requested Pakistan Revenue Automation Limited (PRAL) to work out all such inadvertent tax payments so that PRA may seek their transfer to the Punjab government. Earlier, the PRA had requested FBR and PRAL to keep watch on Punjab sales tax receipts erroneously deposited with the FBR. The tax collection figures of PRA for July and August 2012 will surely increase on receipt of incorrectly deposited amounts of Punjab sales tax with FBR, the spokesperson said.