Govt reverses 600 per cent increase in property tax | The Express Tribune


RAWALPINDI:

After reaching an agreement with Markazi Anjuman-e-Tajiraan Punjab, the Excise, Taxation and Narcotics Control Department has announced the reversal of a 600 per cent increase in property tax and has also offered a discount of up to 10 per cent to those who submit their payable property taxes by December 31.

Following the announcement, members of the Markazi Anjuman-e-Tajiraan Punjab affirmed that they will pay their dues for domestic and commercial property taxes before the deadline.

Markazi Anjuman-etTajiraan Central President Sharjeel Mir and leader Tahir Taj Bhatti told The Express Tribune that the federal and Punjab governments had increased the property tax rate by 500 to 600 per cent in the current financial year’s budget.

Subsequently, traders’ associations across Punjab staged several protests, which have now resulted in the government taking back the increase and restoring the old tax rates.

At the insistence of trade associations, the taxation department has also agreed to offer a five per cent rebate on property taxes for those who will clear their dues till December 31. Additionally, traders utilising the ‘ePay Punjab’ app to pay these taxes by the due date will receive a further discount of five per cent – thereby saving a total of 10 per cent on tax payment.

Authority figures in the business sector have instructed all traders and shopkeepers across Punjab to take advantage of the discount by submitting their pending property taxes by December 31

Meanwhile, sources in the Excise and Taxation Department told The Express Tribune that after the withdrawal of the increased tax rate, revised property tax bills will be issued on Monday (today) as per the old rates.

 

 

Published in The Express Tribune, December 20th, 2021.




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