Lahore: Provincial Minister for Excise & Taxation and Finance Mujtaba Shuja ur Rehman has said that system of taxation is being simplified and the new tax will be imposed only on well-to-do people. He said that there are more than four thousand landlords having fifty or more acres of land and agri tax will be imposed on them. He said that there is a need to formulate agri tax system in accordance with the present day needs.
Provincial Minister for law Rana Sanaullah directed the officials of Excise Department to take measures for registration of vehicle in the name of the owners as the transfer of vehicle to the purchaser will result in increase in revenue besides solution of other problems.
They expressed these views while presiding over a meeting of Resource Mobilization Committee. Member Provincial Assembly Dr. Ayesha Ghaus Pasha, Rana Babar Hussain, ACS Energy / Secretary Finance Jehanzeb Khan, Senior Member Board of Revenue Nadeem Ashraf, Member Tax Board of Revenue Muzaffar Mahmood, Secretary Excise Khalid Mahmood Chaudhry, Secretaries and senior officials of Finance, Irrigation, C&W and Transport Department, Chairman Punjab Revenue Authority and other officers were also present on the occasion.
The meeting was informed that there will be an increase of more than five hundred million rupees in the income as a result of enhancement of motor vehicles tax while Board of Revenue is issuing notices to more than three thousand persons for the payment of agri income tax.
Mujtaba Shuja ur Rehman said that problems of the common man and low-income segments will also be kept in view at the time of new taxation and only taxable sectors are being brought into tax net. He said that government is simplifying tax recovery system along with expanding tax net.