In a significant new development, the Punjab government has introduced a professional tax through an amendment to the Punjab Finance Act of 1977, causing widespread concern among residents.
The new tax will be directly deducted from the salaries of employees across various sectors, adding a financial strain on workers. This move comes amid ongoing criticism of the Punjab government’s economic policies, which some are now calling another “bombshell” hitting the less fortunate. The government had sought changes to the Punjab Finance Act 1977 to implement this tax.
The professional tax is now mandatory for all companies within the province, which will be required to deduct the tax from their employees’ pay. This decision follows a Lahore High Court ruling that led to the amendment of the 1977 Act. Under the new regulations, the chief principal officer of each company is responsible for ensuring that the tax is deducted and submitted to the government.
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Companies failing to comply with this mandate will face punitive measures. The implementation of the professional tax has raised concerns about its impact on workers, particularly those with lower incomes, as the new policy affects individuals across all income levels and sectors.
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