Balanced tax collection system soon: minister
Punjab Finance Minister Makhdoom Hashim Jawan Bakht has said that the government was making efforts for unification of taxes and harmonisation in revenue collection in all four provinces while clarifications would be made on the tax related litigations and GST on services related matters.
The minister chairing a review meeting of the Punjab Revenue Authority (PRA), said that where required new reforms would be introduced and all services would be brought in tax net by creating a balance in the system while tax exempted services would be made clear in the Act. He said reduction in withholding tax rate was attached with registration of the businesses with tax departments.
The minister stressed the need of single tax collection platform and reforms were initiated at provincial level for this purpose. He said tax management unit was being established in finance department to unify all provincial tax collection. He said the private sector input for this purpose would be appreciated.
The minister appreciated the efforts of the Punjab government in ease of doing business while tax system reforms will further ease in doing business and improve Pakistan’s ranking in the world.