LAHORE: The Punjab Revenue Authority (PRA) has started a campaign to bring all multinational companies into tax net and successfully started recovery of sales tax from these firms.
Under the Sales Tax on Services Act 2012, the PRA has received Rs 250 million as sales tax from a Chinese firm against the construction of a power plant in Haveli Bahadur Shah, Jhang.
Sources said that the Lahore Enforcement Commissionerate has collected Rs 250m sales tax from a Chinese Company M/s PCCC, which is undertaking construction of 1,230MW gas power plant.
They said the amount had been received as advance payment from the company as exact volume of sales tax would be calculated at later stage.
Sources said it was expected around Rs 500 million to Rs 600 million more revenue would be received in the current financial year from two other Chinese companies working on energy projects, which would help to achieve the ambitious target of Rs 72 billion set for FY 2015-2016.
