06-16-2014, 02:23 PM
Excise Department To Devise New Property Tax Recovery Formula
Lahore: The Excise Department has advised the officers concerned to revise the property tax recovery formula according to the new tax rates and told them to develop the formula by June 22 so that tax challans could be sent to property owners from July 1.
The department has also started working on collecting luxury taxes on houses spanning more than 2 kanals. According to news sources, most of these luxury houses are located in Lahore, Rawalpindi, and Faisalabad. Luxury taxes from such houses will be collected only once.
Lahore: The Excise Department has advised the officers concerned to revise the property tax recovery formula according to the new tax rates and told them to develop the formula by June 22 so that tax challans could be sent to property owners from July 1.
The department has also started working on collecting luxury taxes on houses spanning more than 2 kanals. According to news sources, most of these luxury houses are located in Lahore, Rawalpindi, and Faisalabad. Luxury taxes from such houses will be collected only once.