LAHORE: Punjab Revenue Authority (PRA) Chairman Iftikhar Qutab, during his visit to Lahore Chamber of Commerce and Industry (LCCI), said that judicious tax management is must for sustainable development.
He was talking to LCCI President Ijaz A Mumtaz at the LCCI during his visit. 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, Representatives of IFC Saima Zubairi, Maha Hussein and Mohammad Baider were also present on the occasion.
The PRA chairman hoped that non-telecom collection would reach Rs 35 to 40 billion during the fiscal year 2014-15 which was Rs 6 billion in 2012 and Rs 16 billion in 2013.
He lauded the efforts of the LCCI for 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 practices and working with the philosophy that “Tax system ownership if not shared can’t be succeeded”.
He said that World Bank has nominated IFC to give 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 payer’s confidence on the system.
Speaking on the occasion, LCCI President Ija 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 LCCI was working as a partner with the Punjab Revenue Authority 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.
