Estb. 1882

University of the Punjab

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PU HCBF organizes tax awareness seminar
PU HCBF organizes tax awareness seminar

LAHORE: (Thursday, February 14, 2019): Rapid reforms on the economic and fiscal front are of great significance for the policymakers, the practitioners and the public at large. The government is focusing on expanding the tax net under the tax laws to meet its obligations with the donor agencies. Punjab University Hailey College of Banking & Finance has organized a seminar on Income Tax Return and Wealth Statement under the Income Tax Law was organized at the college to equip the students with firsthand information on the recent economic, monetary and fiscal reforms ongoing in the country. The seminar was conducted by Mr. Nadeem Butt, an eminent member of Lahore Tax Bar Association and Institute of Chartered Accountants of Pakistan. The students were briefed in detail on the mechanism for becoming a filer and the benefits accruing to the filers as well as the consequences for being non-filer. The guest speaker conducted the session in an informative manner addressing the questions of the students. A comparative study of the tax regimes was also presented for making the participants well-acquainted with the hierarchy in tax management. HCBF Principal Prof. Dr. Mubbsher Munawar Khan highlighted the importance of tax structure in financing the recurring and developmental needs of the country. He stressed upon the need to conduct road shows for creating awareness in the general public and removing their apprehensions about tax structure, filing of returns and tax brackets. He emphasized that concentrated efforts be made to promote voluntary Filing of Returns in order to strengthen the relationship of Fiscal Authorities with the stakeholders.