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Judicious tax management is must for sustainable development: Iftikhar Qutab - Press Release issued by Lahore Chamber of Commerce and Industry(Pakistan Official News Via Acquire Media NewsEdge) October 23, 2014 (PPI-OT) Following is the text of press release issued by Lahore Chamber of Commerce and Industry (LCCI) Quote Chairperson Punjab Revenue Authority (PRA) Iftikhar Qutab has said that judicious tax management is must for sustainable development. He was talking to the LCCI President Ijaz A. Mumtaz at the Lahore Chamber of Commerce and Industry. Former LCCI President Mian Muzzafar Ali, Executive Committee Members Muhammad Haroon Arora, Maqsood Ahmed Butt, Dr. Qurat-ul-Ain Irfan and former Executive Committee Member Shahzad Azam Khan, Representatives of IFC Saima Zubairi, Maha Hussein and Mohammad Baider also spoke on the occasion. Chairman PRA hoped that non-telecom collection would reach the mark of Rs. 35 to 40 billion during the ongoing fiscal year 2014-15 which was Rs.6 billion in 2012 and Rs.16 billion in 2013. He applauded the efforts of LCCI in helping PRA to create awareness among its members and to enforce its regulations. While briefing the house about the aims and objectives of the PRA, he said that Authority was following the international best practices and working with the philosophy that "Tax system ownership if not shared can't be succeeded". He said that World Bank has nominated IFC to give us technical aid for the development of PRA. He said that since its inception of PRA, its collection graph has been showing an upward trend which was a clear proof of tax payer's confidence on the system. Speaking on the occasion, LCCI President Ija A. Mumtaz said that Public-Private Dialogue was the solution of various economic challenges being faced by the business community and economy. He said that LCCI was working as a partner with the Punjab Revenue Authority and it has made it compulsory for the business entities from service sector to furnish PRA registration certificate at the time of LCCI membership. LCCI President suggested that PRA should collect tax from the date of registration of the company and not from the date of promulgation of PRA. He said that PRA should focus on communicating with the people through FAQs and pamphlets as they are not fully aware of the new system. He assured the Chairperson of Punjab Revenue Authority fullest support of Lahore Chamber of Commerce and Industry. Former LCCI Executive Committee Members Mr. Akram Malik, Mr. Ghulam Sarwar Hajvari and Mr. Rehmatullah Javed were also present in the meeting. For more information, contact:Shahid KhalilInformation DepartmentLahore Chamber of Commerce and Industry (LCCI)11-Shahrah-e-Aiwan-e-Tijarat,Lahore -54000, PakistanTel: +92-42-111-222-499Fax: +92-42-6368854 Unquote |