Lahore: The Punjab government has decided to launch a unified tax regime across the province in its bid to streamline the tax collection process and to facilitate taxpayers, according to news sources. Provincial Finance Minister Makhdoom Hashim Jawan Bakht expressed his views on the matter during a meeting of the Punjab Revenue Authority (PRA) on Sunday.
He stated that a single tax collection system was the need of the hour and the provincial executive had decided to introduce various reforms for this purpose. He revealed that a special unit to facilitate tax management efforts was being set up at the Punjab finance department.
He said that a unified tax collection procedure would help streamline the process of tax collection and facilitate individuals as well as the local business community in their tax payment efforts. The clarifications relating to tax litigation and general sales tax (General Sales Tax) on the service-related matter will soon be offered as well, he added.
Further, the minister called on the private sector for providing suggestions on this front. He opined that businesses which are registered with the tax authorities, will enjoy reduced withholding tax rates. He was of the view that all these reforms would contribute to the economic success of the country.
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