Lahore, July 23, 2023 — The Punjab Revenue Authority (PRA) is intensifying efforts to meet its ambitious tax collection target of Rs 240 billion for the fiscal year 2023-24 by expanding into unexplored sectors, especially the booming real estate industry.
According to a PRA spokesperson, the authority is actively identifying areas that have historically remained outside the formal tax net. By targeting sectors like property development, housing societies, high-rise buildings, and real estate agents—fields previously unexplored—the PRA aims to significantly increase revenue collection. Around 1,400 housing societies registered with the Lahore Development Authority are expected to be key contributors under this strategy.
In the previous fiscal year (2022-23), the PRA achieved remarkable success by surpassing its target of Rs 197 billion and collecting over Rs 200 billion. This performance ranked PRA ahead of other provincial tax authorities in Pakistan. The authority credits its achievements to strategic inclusion of diverse sectors such as telecom, banking, hotels, advertising, production houses, insurance, security services, and franchise businesses.
For the current year, the PRA’s roadmap includes deeper engagement with unexplored sectors like IT, which is being brought under the tax net at a reduced rate to support its growth. Similarly, the hotel sector has been restructured with a differentiated service tax: 16 percent on cash payments and 5 percent on credit card transactions. This dual rate is intended to boost transparency, increase banking activity, and curb tax evasion.
The PRA reassures stakeholders of its clean operational record, maintaining transparency and efficiency without any formal complaints registered. Headquartered in Lahore, the authority operates through commissionerates in eight divisions and is expanding its footprint with four new district offices in Murree, Gujarat, Dera Ghazi Khan, and Bahawalpur.
Looking ahead, the PRA envisions itself as a premier tax agency targeting Rs 1000 billion in annual revenue in the long run. With a focused approach on previously unexplored revenue streams and under-taxed sectors, the PRA aims to strengthen Punjab’s economic foundation and broaden the province’s tax base effectively.