LCCI, taxation department to maximize cooperation

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Excise and Taxation Department on Tuesday agreed to maximize mutual cooperation between the two organisations.

During a meeting between LCCI President Irfan Iqbal Sheikh and Secretary Excise & Taxation Wajihullah Kundi, it was resolved that maximum facilities would be provided to LCCI members. Now, the LCCI members can make their payments through the E-payment system at a dedicated counter of Excise and Taxation Department at the LCCI. By availing this opportunity, the LCCI members would be able to get 15 percent rebate on property tax and 25 percent concession on vehicle token tax.

Secretary Excise & Taxation Wajihullah Kundi said the Excise, Taxation and Narcotics Control Department is providing services for collection of various taxes and duties efficiently and effectively and suggesting ways and means for additional resource mobilization in the province. Apart from building up taxpayer's confidence, creation of taxpaying culture and providing facilities to the general public in payment of taxes are the top most priorities of the department, he added.

The LCCI President said that facilitation through E-payment system at the dedicated counter of the Excise & Taxation Department is a great relief to the members. He said that economic stability of the country can be guaranteed through public-private partnership. The option of getting a lifetime token should be introduced for vehicles up to 1300 CC cars. Moreover, to expedite the process of sale/purchase of motor vehicles, the authorized dealers should be given the biometric facility.

He said that motor vehicle taxes are considerably higher in Punjab as compared to other parts of the country. As a result, many residents of Punjab are getting their vehicles registered from Islamabad, resulting in a sizable loss of revenue for the provincial government, he said.

Copyright Business Recorder, 2020