LAHORE, Oct 01 (APP): Punjab Revenue Authority (PRA) has intensified province-wide enforcement operations to ensure compliance with the Electronic Invoice Monitoring System (E-IMS).
Over the past two days, notices have been issued to more than 70 hotels, restaurants and marquees for failing to comply with E-IMS requirements. PRA Enforcement Officers have also imposed fines on several restaurants for continued violations despite the issuance of notices, according to PRA spokesman here Thursday.
The E-IMS is aimed at ensuring greater transparency in business transactions and tax collection records. Businesses meeting the prescribed sales threshold are required to issue receipts through the system, while the sales and tax records of E-IMS-integrated businesses will be digitally monitored. Businesses are also required to provide customers with computerized and verifiable receipts after payment. Action is being taken against establishments that fail to comply with PRA’s prescribed requirements for sales invoices.
The system will enable PRA to compare the business volume declared in tax returns with the corresponding tax collection records, helping strengthen monitoring and compliance. Businesses that continue to violate E-IMS requirements despite receiving notices will face action in accordance with the law.
The PRA spokesperson said protecting the tax paid by consumers remains the Authority’s foremost responsibility, adding that heavy penalties are being imposed on those involved in fraudulent practices.
Source: APP (Associated Press of Pakistan)
