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Benefits of taxation highlighted on Tax Day

Benefits of taxation highlighted on Tax Day

RAWALPINDI: The collection of tax from public is crucial for the development of any country and ensures the provision of basic needs to the citizens. Taxation is the only practical means of raising the revenue to finance government spending on goods and services demanded by the public. Developing countries face formidable challenges when they attempt to establish efficient tax systems.

These views were expressed by Punjab Revenue Authority Commissioner Imran Hayee Khan and Deputy Commissioner (DC) Talat Mehmood Gondal while addressing a seminar held to celebrate Tax Day here.

Additional Commissioner PRA Shafqat Rasool Sandhu, Sadia Akmal, Assistant Commissioner PRA Adnan Anjum, Additional Deputy Commissioner (Finance and Planning) Rao Atif and other senior and junior officers also attended the seminar.

On the occasion, DC Talat Mehmood Gondal has given the award of appreciation to Top City-1, the smart housing project near New Islamabad International Airport, on behalf of PRA for the highest tax payers in the province. Award was received by Top City-1 Chief Operating Officer (COO) Brig (retd) Sikander Khan.

While addressing the seminar, Commissioner and DC said that an efficient tax system exists in other parts of the world whereby the government collects taxes from masses and spends it on their well-being. However, the government in the developed countries have to make efforts to win the hearts of tax payers by ensuring them that the tax money would be spent on bringing a change in their lives. “The nations that willingly pay taxes receive the best facilities in terms of education, health and accommodation,” they said. They said the ratio of tax collection has considerably increased after establishment of PRA. Moreover, the MoU signed between Punjab Food Authority and Tourism Development Corporation resulted in a consumer friendly tax collection system, they added.

Top City-1 COO Brig (retd) Sikander Khan, while addressing the seminar, reiterated the company’s vision and mission to contribute to the economy of Pakistan. He also emphasized that the CEO of Top City-1 Kunwar Moeez Khan believed in fair business practices as he is one of the highest taxpayer businessmen of Islamabad.

He said by entering a new phase of development and mega projects being launched at TopCity-1, it will again stand out in the next year’s active taxpayers list and will contributing to economy.

Similarly, all awarded entities were invited at the ceremony held at PRA office Rawalpindi. Government of Punjab celebrates this day by holding tax sensitization events to acknowledge the contributions of highest contributors.

On the other hand, Excise and Taxation Director Tanvir Abbas Gondal and others organized an awareness walk to celebrate Tax Day. The walk started from Excise office and culminated at Katcheri Chowk where the speakers highlighted the importance and benefits of tax collection.