A four-member delegation of the World Bank met with Chairman Punjab Revenue Authority (PRA), Moazzam Iqbal Sipra, to discuss the promotion of a cashless economy in Punjab and the practical initiatives being undertaken by the Government of Punjab in this regard.During the meeting, the Chairman briefed the delegation that PRA is facilitating the services sector to encourage digital payments as part of its drive towards a cashless economy. He informed that consumers in the hotel and restaurant sector are being offered up to 11 percent tax relief on payments made through debit and credit cards.
It was further shared that the World Bank and Punjab Revenue Authority have agreed on a joint working plan to fully digitalize the tax collection system. The Chairman stated that transition towards an e-economy would help curb tax evasion and eliminate manipulation and tampering of records. The Chairman added that the development and operationalization of PRA’s e-system will be linked with the Punjab Information Technology Board (PITB) database to ensure transparency and efficiency. He also highlighted that, with the support of other government institutions, the scope of business registration and tax collection is being expanded.
The World Bank delegation appreciated the reform agenda of the Punjab Revenue Authority and assured full practical cooperation in its implementation.
