LAHORE: In a bid to introduce tax reforms in the province, the Punjab Revenue Authority (PRA) has signed a memorandum of understanding (MoU) with Australian High Commission and McKinsey & Company.
The signing ceremony was attended by Punjab Finance Minister Dr Ayesha Ghaus Pasha, Secretary Finance Hamid Yaqub Shaikh, PRA Chairman Dr Raheal Ahmad Siddiqi, Australian High Commissioner Jurek Juszczyk and representatives of McKinsey & Company.
The scope of the MoU is to run a diagnostic on PRA and to suggest ways and means to improve tax administration and tax revenues to the tune Rs 150 billion from the current collection of Rs 61.6 billion for finance year 2015-16 in the next three years.
The company engaged by the for this assignment is the world renowned management consultancy firm, McKinsey & Company which will be funded by the Australian government through its Department of Foreign Affairs and Trade.
