Focus is on expanding tax net, says Ayesha Ghaus

Reiterates govt’s commitment to boost exports and bring investment

LAHORE: Addressing some of the key issues of the economy, Punjab Finance Minister Dr Ayesha Ghaus Pasha has said that the government is striving to overcome all challenges and aiming to promote local industries.

Pasha, who was on a visit to the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday to inaugurate an incubation center, said that the Punjab Revenue Authority (PRA) is the first agency which is collecting tax at the provincial level.

She said that since the establishment of the PRA in 2012, services and businesses to be included in tax net have been increasing considerably. She said that work on tax net expansion is well on its way.

“When the existing chairman took charge of PRA, only 8,000 taxpayers were registered with the authority. This number has now been raised to 45,000,” said Pasha.

She said that the focus is on tax expansion instead of burdening existing taxpayers.

Pasha also informed businessmen that the tax collection day would be observed on April 10. “The initiative was taken last year to inform the taxpayers that their tax is being spent on development projects and to develop tax culture.”

According to Pasha, the provincial development expenditure has increased by 38% and work on a number of power projects is underway.

On the issue of double taxation, she said that the matter has been taken with the federal finance minister and Federal Board of Revenue and positive results are expected in this regard. “Our aim is to enhance Pakistan and Punjab’s growth rate, to enhance exports and bring investment to achieve this target.”

PRA Chairman Raheel Ahmed Siddiqui said that the Sindh Revenue Authority has been asked to settle the issue of Infrastructure Development Cess and also asked to bring down its rate in the first phase. He said that a formula in this regard has also been evolved that would be discussed in the next meeting.

Published in The Express Tribune, April 6^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.