AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.66 Increased By ▲ 3.13 (2.42%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.57 Decreased By ▼ -0.06 (-1.3%)
DCL 8.92 Decreased By ▼ -0.02 (-0.22%)
DFML 42.75 Increased By ▲ 1.06 (2.54%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.06 Increased By ▲ 1.59 (2.11%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.01 Decreased By ▼ -0.54 (-0.49%)
HUMNL 14.40 Decreased By ▼ -0.16 (-1.1%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.32 Decreased By ▼ -0.08 (-0.95%)
MLCF 39.67 Decreased By ▼ -0.12 (-0.3%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.74 Decreased By ▼ -0.92 (-0.46%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.35 Decreased By ▼ -0.11 (-0.6%)
SEARL 82.24 Decreased By ▼ -0.20 (-0.24%)
TELE 8.12 Decreased By ▼ -0.19 (-2.29%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.49 Decreased By ▼ -1.83 (-2.98%)
UNITY 27.52 Increased By ▲ 0.09 (0.33%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,614 Increased By 206.9 (1.99%)
BR30 31,874 Increased By 160.5 (0.51%)
KSE100 98,972 Increased By 1644 (1.69%)
KSE30 30,784 Increased By 591.7 (1.96%)
Print Print 2019-10-28

Punjab government to unify collections of provincial taxes: minister

Punjab Finance Minister Makhdoom Hashim Jawan Bakhat has said the government is making efforts for unification of taxes and harmonization in revenue collection in all four provinces while clarifications would be made on the tax related litigations and GST
Published October 28, 2019

Punjab Finance Minister Makhdoom Hashim Jawan Bakhat has said the government is making efforts for unification of taxes and harmonization in revenue collection in all four provinces while clarifications would be made on the tax related litigations and GST on services related matters.

"Reforms would be introduced and all services would be brought in the tax net by balancing the system while tax exempted services would be made clear in the Finance Act," stated the minister while presiding over a review meeting of the Punjab Revenue Authority (PRA) here on Sunday. He said reduction in withholding tax rate was attached with the registration of businesses with the tax departments.

Stressing the need for introducing a single tax collection platform, Bakhat said that reforms are being brought at the provincial level. He said that a tax management unit is being established in the Punjab Finance Department to unify collections of all the provincial taxes, adding that the input of private sector will also be sought and appreciated in this regard.

The minister, appreciating the efforts of the Punjab government in ease of doing business, expressed that the tax reforms will further ease in doing business and improve Pakistan's ranking in the world. The PRA officials briefed the minister that new standard operating procedures (SOPs) are being evolved and the technical staff would be hired on decision-making and important positions. Later, Bakhat instructed the officials to issue the tax clearance certificates to taxpayers along with their audit reports.

Copyright Business Recorder, 2019

Comments

Comments are closed.