LAHORE: People will pay 50 percent more property tax than the last year’s valuations while 0.4 million property tax notices had been issued this year in the Punjab.
Talking to Customs Today, Excise and Taxation(E&T) Lahore Director Akram Ashraf Gondal said that 0.4 million property tax notices have been issued all over the Punjab to collect tax returns for the year 2014. He added that the taxpayers could enjoy five percent concession in tax returns by submitting the returns till September 30.
According to new valuation of luxury taxes, the owners of up to two canal house would pay tax at the rate of Rs 2,50,000 per canal, sources said. The sources also 50 percent increase has been made the in property taxes.
