The Governement of Punjab has introduced a professional tax by amending the Punjab Finance Act of 1977. The new tax policy will directly impact employees across various sectors, as it mandates companies to deduct the tax from their workers’ salaries.
The decision has drawn significant criticism, with many accusing the government of adding another financial burden on the already struggling populace.
This comes as part of a series of economic policies that have put pressure on the working class, with the latest move being referred to as another “tax bomb.”
The amendment to the Punjab Finance Act 1977 was initiated following a ruling by the Lahore High Court. Under the newly revised regulations, companies operating within the province are now required to ensure the deduction and deposit of the professional tax.
The chief principal officer of each company holds the responsibility for compliance, and failure to do so may result in punitive action against the companies.
The introduction of this tax has raised alarms, especially among workers in the lower-income brackets. As the tax is mandatory for all employees, it affects individuals from all sectors, exacerbating financial challenges for many.
Critics argue that the timing of the professional tax is particularly harsh, given the current economic climate.
The Punjab government, however, defends the move, stating that it is a necessary step to boost revenue and meet fiscal targets.
Nonetheless, the debate continues, with citizens voicing concerns about the long-term impact on their livelihoods.
As the professional tax takes effect, the public will be closely watching the government’s next steps and how it addresses the growing discontent among its constituents.
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