By Commerce Reporter
LAHORE: The Punjab Revenue Authority (PRA) has achieved a significant milestone by completing the registration of 35,000 new businesses in the tax net across Punjab during the past year.
A review meeting on business registration and tax-net expansion targets across the province was held under the chairmanship of Chairman Punjab Revenue Authority Moazzam Iqbal Sipra.
The Chairman directed that, alongside registration of businesses, transparency in tax returns and compliance with tax requirements must also be ensured.
“The scope of digital monitoring of business activities will be expanded to make the tax system more effective,” said Chairman PRA Moazzam Iqbal Sipra.
Read also: PRA intensifies crackdown on tax evasion through fake receipts, irregular records
He stated that businesses with a monthly sales volume of up to Rs. 500,000 are required to be connected with the PRA’s Electronic Invoice Monitoring System (e-IMS). The Electronic Invoice Monitoring System will further improve transparency in business transactions and tax payments, he said.
The Chairman directed that the tax returns and invoices of registered businesses should be effectively monitored through the Central Monitoring System to ensure transparency and compliance.
He emphasized that the objective of business registration is not merely to increase the number of registered businesses, but to promote transparency in the tax system and the growth of the digital economy.
The Chairman directed all Commissioners to arrange special awareness sessions for business owners regarding tax laws, compliance requirements and tax return filing.
“On the directions of the Chief Minister Punjab, all possible measures will be ensured to promote an easy, transparent and modern digital system for taxpayers,” Chairman PRA said.
He further stated that digital monitoring of business activities will help prevent manipulation and falsification of business records, while strengthening transparency and compliance within the tax system.
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