Lahore: Punjab Finance Minister Mujtaba Shujaur Rehman emphasized the necessity of economic documentation, announcing plans to amend the Punjab Sales Tax Act to enhance the efficiency of the Punjab Revenue Authority (PRA), reported a news source. Chairing a meeting of the Ministers’ Committee for Resource Mobilisation 2024-25, Rehman reviewed proposals from the Board of Revenue and Punjab Revenue Authority aimed at bolstering the province’s indigenous resources.
Rehman highlighted the intention of the Punjab government to update taxes administered by the Board of Revenue, some of which have remained unchanged for 15 to 20 years. He instructed tax departments to devise a mechanism allowing for periodic adjustments to tax rates.
Additionally, Rehman outlined initiatives to promote the use of plastic card payments, including debit and credit cards, for tax transactions. He underscored the importance of data sharing with the Federal Bureau of Revenue (FBR) to broaden the tax base and enhance revenue collection.
During the meeting, the Additional Secretary of Finance provided an overview of the performance of tax departments. While the Punjab Excise and Taxation Department and PRA reported steady growth in collections, the Board of Revenue faced challenges in meeting its targets despite concerted efforts.
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