LAHORE: Punjab Revenue Authority has started a campaign to bring all multinational companies under tax net and successfully started receiving sales tax from these firms’ specially foreign construction companies.
Under the Sales Tax on Services Act 2012, the Punjab Revenue Authority has received Rs 250 million under the head of sales tax from a Chinese firm against the construction of a power plant in Haveli Bahadur Shah of district Jhang.
Sources of the PRA told Customs Today that the Lahore Enforcement office collected Rs250m under the head of sales tax from 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 Rs500m to Rs600m more revenue would be received during the current financial year from two other Chinese companies who are working on energy projects which would help achieve the ambitious target of Rs72 billion set for 2015-2016.
