LAHORE
\nPunjab Finance Minister Mian Mujtaba Shuja-ur-Rehman held a meeting with a delegation of Chainstore Association of Pakistan (CAP) at here Civil Secretariat on Saturday.
\nThe meeting was convened in response to CAP\u2019s concerns regarding the recent imposition of 16 percent sales tax on commercial property rent by Punjab Revenue Authority (PRA). The delegation formally requested a review of the decision, citing its potential impact on the organized retail sector.
\nDuring the meeting, the Finance Minister briefed the delegation about the provincial government\u2019s fiscal policies, tax reforms, and budgetary priorities.
\nHe clarified that no new taxes have been introduced in the provincial budget over the past two years. Instead, the government\u2019s focus remains on ensuring the effective enforcement and collection of already applicable taxes in line with the broader reform agenda.
\nMujtaba highlighted that PRA is working to broaden the tax base and enhance provincial revenue collection capacity to achieve greater fiscal autonomy. The Minister noted that while most taxes, including income tax, fall under the jurisdiction of the federal government, the PRA is responsible for collecting sales tax on services within the province.
\nTo improve clarity and transparency in tax policy, the PRA is currently developing a \u201cnegative list\u201d \u2014 a comprehensive list of services that will be exempt from sales tax. This initiative aims to simplify compliance and create a business-friendly tax environment.
\nAcknowledging the concerns raised by the business community, he reaffirmed the government\u2019s commitment to supporting businesses, promoting ease of doing business, creating employment opportunities, and fostering economic growth.
\nHe assured the delegation that their recommendations would be thoroughly reviewed and that the government would extend relief where feasible.
\nFinance Minister also urged traders to fulfill their tax obligations responsibly and play their role in supporting the province\u2019s economic progress.
\nThe delegation included CAP\u2019s Patron-in-Chief Rana Tariq Mehmood and Chairman Mr. Asfanyar Farrukh. The representatives appreciated the Punjab Government\u2019s reform initiatives and assured their full cooperation in efforts aimed at strengthening the provincial economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman held a meeting with a delegation of Chainstore Association of Pakistan (CAP) at here Civil Secretariat on Saturday. The meeting was convened in response to CAP\u2019s concerns regarding the recent imposition of 16 percent sales tax on commercial property rent by Punjab Revenue Authority (PRA). The delegation formally […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-489958","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n