Punjab’s Minister for Finance Dr Ayesha Ghaus Pasha has said that Punjab government instead of levying unnecessary taxes, is paying special attention to expanding the scope of tax net for improving tax infrastructure in the province.
She expressed these views while addressing a consultative meeting with overseas investors about the increase in resources and preparation of provincial budget 2017-18 at Chamber of Commerce, Karachi on Thursday.
She said that tax is being collected from those earning high and providing luxurious services including boutique, salon, beauty parlours, restaurants under computerised system in Punjab.
She said that Punjab Revenue Authority intends to bring more than six services under tax net during the next financial year. The minister said that after computerisation of land record, recoveries of Board of Revenue have increased substantially. She said that the number of taxpayers is being increased for providing relief to the common man and strengthening the economy, instead of increasing the tax rate. She said that due to solid policies of the government and better law and order situation, local and foreign investments have increased.
President of Overseas Investors Abdul Aleem, owners, CEOs Of national and international companies besides senior office-bearers of the chamber, participated in the meeting.
She told the meeting that Punjab government is considering a proposal of setting up of an agency for recovery of all kind of taxes at a provincial level for removing reservations of all chambers of commerce including overseas. She made it clear that Punjab government in accordance with the direction of Chief Minister Shehbaz Sharif is evolving a comprehensive policy for resolving issues between federal government and the provinces to get rid of problems like dual taxation. Pasha said that best relief would be provided to the traders and industrialists in the coming Punjab budget.
Pasha informed the investors that Punjab government has set up 14 services centres for recovery of taxes and providing information under one-window operation. She said that her visit to Karachi is aimed at discussing recommendations and proposals regarding facilities being provided to taxpayers and financial system of government with traders and industrialists about business matters so that a transparent tax system could be evolved with the help of practical proposals in future.
Overseas investors while informing the minister about the problems relating to the payment of taxes submitted proposals for their redressal. They said that traders and industrialists are satisfied over the administrative measures of Punjab Revenue Authority. They stressed the need of access to the information about taxes.
Punjab Revenue Authority Chairman Raheel Ahmad Siddiqui informed the meeting about the tax system and facilities being provided to the traders’ community by the authority. He said that the authority is simplifying tax forms and other information for people.
Earlier, the minister while addressing traders and industrialists at Pakistan Business Council said that the progress of the country depends on payment of taxes.
She said that under 18th amendment more powers have been given to the provinces for recovery of taxes. While referring various tax rates in different provinces, Pasha said that National Finance Commission (NFC) exists for best taxation system, therefore, all provinces should fully benefit from NFC. She said that the Punjab Government has arranged
