Islamabad: The Punjab Revenue Authority (PRA) has announced its decision to bring doctors, lawyers, cable, cold storage and beauty parlour operators, cosmetic surgeons, and owners of wedding halls and hair transplant centres into the tax net, reported a news source.
For this purpose, the PRA officials held a detailed meeting with representatives of the Pakistan Tax Bar Association (PTBA) to increase sales tax on services offered in Punjab and increase tax revenue from these service providers.
PRA affirmed the PTBA delegation that it will not issue tax notices prior to the registration of services providers; adding that it will be freeze their bank accounts and will seal their businesses in case of non-compliance. In response, the delegation members expressed their determination for bringing the service providers into the tax net in order to help increase the province’s revenue collection.
According to reports, the PRA officials are expected to hold meetings next month with representatives of the Services Association in Punjab in a bid to address their concerns. Furthermore, the taxation authority is also planning to hold a meeting with tax authorities from other province in order to address their concerns on the introduction of Single Return Form.
Once the consensus is developed among the federation and all provinces, the apex tax authority will introduce the Single Return Form. The PRA also informed the meeting members that the issue pertaining to double taxation on tax payers will be sorted out before the next fiscal year’s budget announcement.
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