PESHAWAR
\nThe Khyber Pakhtunkhwa government will charge a fixed amount of sales tax on services from restaurants and wedding halls across the province, as all the restaurants and wedding halls will be registered and brought into the tax net.
\nThis was stated by the Advisor to KP chief minister on Finance Muzzammil Aslam at a consultative session on subordinate legislation under the KP Sales Tax Act 2022 arranged by Khyber Pakhtunkhwa Revenue Authority (KPRA) here on Thursday.
\nHe was the chief guest in the session which was funded by the Sub National Governance Program and was attended by lawyers, tax experts, government officials, withholding agents, businessmen, and representatives of the chambers of commerce.
\nThe advisor to CM in his speech and during the question-answer session said that the 23 percent property tax, charged in the province is very high which is why people have opted for stamp papers and only 6 percent of the property tax collected in the province is paid to the province and the rest goes to the federal government.
\nTo encourage women entrepreneurs, the Advisor directed DG KPRA to establish a women\u2019s desk in KPRA for their facilitation. He added that 93% of the province budget is dependent on federal transfers which is overly reliant on the federal government and the fiscal space with the provincial government is shrinking.
\nHe stressed on increasing the province\u2019s own tax revenue and said that 45 million of pollution is giving only Rs42 sales tax on services. He said he believes in reducing tax rates and increasing the tax base.
\nIn her opening remarks the Director General of Khyber Pakhtunkhwa Revenue Authority Miss Fouzia Iqbal thanked the participants of the session, the representatives of SNG, and the Chief Guest for taking out time to attend the session. She shed light on the need for the subordinate legislation and its importance.
\n\u201cAfter the enactment of KP Sales Tax Act 2022, we desperately needed to draft and formulate rules and regulations under the Act for smooth and efficient imposition and functioning of Act,\u201d she said adding that the subordinate legislation will bring accountability in the working of the enforcement officers and will shelter the taxpayers from harassment at the hands of the enforcement officers.
\n\u201cWe needed the rules and regulations for the effective administration of sales tax in the province and to smoothly plead our cases in the courts,\u201d she said, adding that the gathering aimed to incorporate the suggestions of all stakeholders and to make the legislation effective and beneficial for both KPRA and the stakeholders.
\nMuzzammil Aslam thanked the participants for attending the session and giving their input in improving the rules and regulations. Your commitment to engaging in constructive dialogue underscores the collective determination to foster a business-friendly environment that is both fair and conducive to growth, he said adding that Subordinate legislation, often referred to as delegated legislation, forms the operational framework that breathes life into the broader principles outlined in primary legislation.
\nWe recognize that revenue from taxation is the lifeblood of nations, underpinning their ability to serve their people and foster prosperity. We want to see KP financially self-reliant and the journey toward self-sufficiency demands a long-term strategy, and effective legislation.
\nThe subordinate legislation we discuss today serves as the operational backbone of the Sales Tax on services Act, 2022, translating its principles into actionable guidelines for taxpayers and tax authorities alike.
\nSpeaking about KPRA, he said KPRA is lauded as the premier revenue-collecting agency of the province, significantly contributing to its financial independence since its establishment in 2013. \u201cThrough diligent revenue collection efforts, KPRA empowers the government to fund crucial infrastructure projects and social services,\u201d he said citing the examples of developmental projects aimed at improving the lives of its citizens.
\nThe Sehat Insaf Card has been resumed by our government as our commitment to provide free healthcare to everyone in the province. The Peshawar Bus Rapid Transit (BRT), revolutionizing urban transportation, stands as a shining example of progressive governance. These initiatives, among others, are essential pillars of societal progress and prosperity.
\n\u201cHowever, the successful implementation of these projects necessitates adequate funding, which requires collective efforts from both the government and the people,\u201d he said. Detailed presentations were given by advisor KPRA on tax Enforcement Fazal Amin Shah and experts from SNG who were behind the drafted rules and regulations. Questions from the participants were taken and answered while their suggestions were noted for incorporation in the legislation.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR The Khyber Pakhtunkhwa government will charge a fixed amount of sales tax on services from restaurants and wedding halls across the province, as all the restaurants and wedding halls will be registered and brought into the tax net. This was stated by the Advisor to KP chief minister on Finance Muzzammil Aslam at a […]<\/p>\n","protected":false},"author":2,"featured_media":397060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-397047","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n