Punjab Revenue Authority (PRA) is urging taxpayers to submit their returns and pay sales tax before the end of June to avoid fines and surcharges. PRA collects and enforces sales tax on services and aims to collect Rs190 billion for the fiscal year 2022-23. In the previous fiscal year, PRA managed to exceed its Rs155 billion target by collecting over Rs170 billion.
To avoid any fines and surcharges, the taxpayers need to ensure that they submit their returns and pay sales tax before June-end. The warning comes as the fiscal year is ending soon, and PRA wants to ensure all taxes are collected appropriately.
The spokesperson for PRA explained that both a fine and surcharge would be applicable to those who fail to meet the deadline. PRA’s semi-autonomous organization is responsible for enforcing tax laws and ensuring citizens comply with their tax obligations.
In conclusion, taxpayers in Punjab are urged to comply with their tax obligations and submit their returns and pay sales tax before June-end. PRA will not hesitate to apply both a fine and surcharge to those who fail to meet the deadline. By doing so, PRA aims to collect the required funds to continue providing essential services to the people of Punjab.
