Preparing To Automate Professional Tax System: DG Excise

LAHORE, (UrduPoint / Pakistan Point News - 19th May, 2024) Director General Faisal Fareed of the Punjab Excise, Taxation & Narcotics Control Department announced that the department is preparing to automate the professional tax system to streamline the process effectively.

"With a demand of 20 billion rupees from approximately 2.4 million properties, there's a pressing need to modernize our tax collection mechanisms," Fareed stated, highlighting the significant revenue challenges faced by the department.

Addressing concerns over the decline in vehicle sales, Fareed attributed the 37 percent reduction to the escalating prices of vehicles in recent years.

This economic hurdle has led the department to explore innovative strategies to rejuvenate the automotive sector and stimulate consumer demand.

To broaden the tax net and improve compliance, Fareed emphasized collaborative efforts with local government authorities. "We are working closely with local government bodies to enhance tax collection efficiency and effectiveness," he remarked, underlining the importance of interagency coordination in achieving fiscal objectives.