Judicious tax management is essential for sustainable development, said Punjab Revenue Authority (PRA) Chairperson Iftikhar Qutab while talking to Lahore Chambers of Commerce Industries (LCCI) President Ijaz A Mumtaz at the LCCI on Friday. Former LCCI President Mian Muzzafar Ali, Executive Committee members Muhammad Haroon Arora, Maqsood Ahmed Butt, Dr Qurat-ul-Ain Irfan and former Executive Committee member Shahzad Azam Khan, IFC representatives Saima Zubairi, Maha Hussein and Mohammad Baider also spoke on the occasion.
The PRA chairman hoped that non-telecom collection would reach the mark of Rs 35 to 40 billion during the ongoing fiscal year 2014-15 which was Rs 6 billion in 2012 and Rs 16 billion in 2013.
He applauded the efforts of the LCCI in helping the PRA to create awareness among its members and to enforce its regulations.
He said that World Bank has nominated the IFC to give us technical aid for the development of the PRA. He said that since the inception of the PRA, its collection graph has been showing an upward trend which was a clear proof of tax payer’s confidence on the system.
Speaking on the occasion, LCCI President Ijaz A Mumtaz said that Public-Private Dialogue was the solution of various economic challenges being faced by the business community and economy.
He said that the LCCI was working as a partner with the PRA and it has made it compulsory for the business entities from service sector to furnish the PRA registration certificate at the time of the LCCI membership.
The LCCI president suggested that the PRA should collect tax from the date of registration of the company and not from the date of promulgation of the PRA. He said that the PRA should focus on communicating with the people through FAQs and pamphlets as they are not fully aware of the new system.