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LAHORE, Nov 15 (APP): The Punjab Revenue Authority (PRA) has reported a remarkable 31% growth in tax collection for the month of October, while its overall tax receipts for the first four months of the fiscal year have increased by 28%.
A spokesperson for PRA shared the positive news on Saturday, noting that these impressive results were achieved despite the absence of new taxes or increases in existing tax rates. The spokesperson attributed the success to effective planning, the integration of modern technology, and a commitment to transparency in the tax collection system.
Emphasizing the importance of businesses’ role, the spokesperson highlighted that it is essential for businesses to honestly deposit the tax they collect from consumers. With the expanding use of the Electronic Invoice Management System (EIMS) and increased cooperation from the industry, PRA anticipates that revenue collection will continue to improve.
The spokesperson also mentioned that ongoing efforts to register unregistered businesses, coupled with enhanced enforcement measures, are expected to further boost tax collections in the coming months.