Lahore, Pakistan: The Punjab Revenue Authority (PRA) has issued a notification declaring all withholding agents as ‘collecting agents’ for tax collection.
This move affects various taxable services, including advertisement services, franchise services, consulting services, and others. The tax rates for these services range from 0% to 16%.
The notification outlines the procedures for payment, assessment, and recovery of taxes. Businesses operating within Punjab will need to comply with the specified tax rates and regulations. Business Recorder
This development is expected to streamline tax collection and enhance revenue generation for the provincial government.
