New tax deduction system on digital payments implemented across Punjab

LAHORE, Jul 10 (APP): A new and easy system of tax deduction on digital payments has been implemented across Punjab.

According to official sources, the Punjab Revenue Authority (PRA) will deduct tax through e-payment or card that will now be transferred directly to the government.

The tax rate on services of beauty parlors, salons and fashion designers will be only 5 percent, tax on cosmetic surgery, plastic surgery, skin and laser treatment centers will be only five percent, in addition, eight percent tax will be paid on event management, tour operators, gymnasiums and laundry services.

According to the spokesperson, there will be a 16 percent deduction on hotel and restaurant services on cash payments, while eight percent on digital payments, and 50 percent less tax will be paid on credit card and digital payments for the hotels and restaurant sector.

The Punjab Revenue Authority officials say that the timely completion of the government’s welfare and development projects will be possible only with the taxes paid by the public.

They requested public to pay digital payments and collect a receipt for the safe transfer of the taxes paid. Complaints should be filed with the Punjab Revenue Authority against food operators who do not provide a receipt.

The PRA officials further said that transparent payment of taxes is a guarantee of development and prosperity in the province.