Judicious tax management must for sustainable development October 24, 2014 RECORDER REPORT Chairperson Punjab Revenue Authority (PRA) Iftikhar Qutab has said that judicious tax management is must for sustainable development. He was talking to LCCI President Ijaz A Mumtaz at the Lahore Chamber of Commerce and Industry. Former LCCI President Mian Muzzafar Ali and executive committee members, Representatives of IFC Saima Zubairi, Maha Hussein and Mohammad Baider were also present on the occasion. Chairman PRA 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 LCCI in helping PRA to create awareness among its members and to enforce its regulations. While briefing the house about the aims and objectives of the PRA, he said that Authority was following the international best practices and working with the philosophy that Tax system ownership if not shared cant be succeeded. He said that World Bank has nominated IFC to give us technical aid for the development of PRA. He said that since its inception of PRA, its collection graph has been showing an upward trend which was a clear proof of tax payers 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 LCCI was working as a partner with the PRA and it has made it compulsory for the business entities from service sector to furnish PRA registration certificate at the time of LCCI membership. LCCI President suggested that PRA should collect tax from the date of registration of the company and not from the date of promulgation of PRA. He said that PRA should focus on communicating with the people through FAQs and pamphlets as they are not fully aware of the new system. He assured the Chairperson of Punjab Revenue Authority full support of LCCI.
Posted on: Fri, 24 Oct 2014 10:28:07 +0000
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