PCJCCI partners with PRA for seminar on new sales tax return

LAHORE: The Pakistan China Joint Chamber of Commerce & Industry (PCJCCI) recently held an informative session on the ‘New Sales Tax Return of PRA’ in partnership with the Punjab Revenue Authority (PRA) at the PCJCCI Secretariat.

President of the PCJCCI Moazzam Ghurki chaired the seminar. Focal Person for PRA Omer Farooq Khan; Senior Manager at Pakistan Revenue Automation Limited (PRAL) Inam ul Wahid; Manager at PRAL Fakhar Abbas; and Executive Committee Member of the PCJCCI Col Ashraf spoke on the occasion, offering insights into the aims and objectives of the new sales tax return.

President Ghurki highlighted that the session was aimed at delivering a thorough understanding of the upcoming changes in the sales tax return process. He emphasized the PCJCCI’s role in facilitating communication between the PRA and its members, aiming to bridge the gap and support the implementation of the PRA’s new updates.

Omer Farooq Khan outlined the session’s goals and provided an overview of the PRA’s initiatives. He described the PRA as a neutral tax law-enforcement agency committed to optimizing government revenue collection from economic activities.

The PRA’s vision is to achieve efficient revenue mobilization for sustainable development through a modern and responsive tax management system.Fakhar Abbas of PRAL noted that starting September 1, 2024, the new sales tax return will transition to the IRS return filing system.