World Bank, PRA agree to digitalise tax system
Updated 4 hours ago
World Bank, PRA agree to digitalise tax system
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The World Bank. Photo: file
A delegation of the World Bank met Chairman Punjab Revenue Authority (PRA) Moazzam Iqbal Sipra to review the move toward a cashless economy and digital initiatives.
According to a statement issued on Friday, the chairman said the PRA is facilitating the services sector to promote digital payments as part of the province's transition toward a cashless economy.
He said consumers in the hotel and restaurant sector are being offered tax relief of up to 11% on payments made through debit and credit cards.
The meeting was told that the World Bank and the PRA have agreed on a joint working plan to fully digitalise the tax collection system.
Sipra said the shift toward an e-economy would help curb tax evasion.
He added that the PRA's e-system would be linked with the Punjab Information Technology Board database.
The World Bank delegation welcomed the reform agenda and assured practical cooperation in implementing the agreed measures.
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