LAHORE: The World Bank has granted Rs 50 million to Punjab Excise and Taxation Department to computerize property tax record of urban unit in the province. The project will be completed until January 31, 2015.
Additional Director General Excise and Taxation Punjab Masoodul Haq said that excise Punjab will chase the target to complete computerization of property tax record before 31st January of this year. Excise has spent Rs 343 million on project.
While talking to Customs Today, Masood added that the core objectives for computerization of property tax record are to produce a transparent valuation list and details of all properties to be assessed. To computerize valuation and other relevant data this can be maintained and updated to take measures in order to computerize billing and collection of property tax in all property tax division in Lahore as well as in other rating areas of the Punjab. Computerization of property tax record will increase the revenue to government.
Corruption will also be eliminated after the completion of this project because it will help to halt the evasion of exchequer by eliminating human intervention in source data and will produce meaningful management information reports for timely and effective decisions resulting in enhanced revenue, he added.
Masood said that this project is totally in favor of the common citizens because it will facilitate the property sale, purchase and transfers as all of data will be available at just one click from the people. Valuation of properties will be easy and it will ease the monitoring of tax collection system.
He added that all the targets will be achieved before time as up to December Department has collected Rs 10.6 Billion which is almost 45 percent of the target and it is 10 percent superfluous than last year’s same period. Excise has recovered 38.69 Million of luxury tax which is just 6 percent against the target of 614.5 Million. He said people seem disturbed because there is no culture in Pakistan to feel the responsibility of taxes. Some people having Billions of rupees are trying to hide behind the wall of Court stay orders.
Excise has collected 57 percent of property tax in 6 months which is satisfactory as it is 34 percent extra than the last year. Property tax is a back bone of the department which is providing 8 to 9 Billion Rupees to Provincial Government every year. He said Department is paying full attention in this regard and is facilitating the tax payers as well.
Other Taxes collected by Excise include 336 Million professional tax, 4.3 Billion motor vehicle taxes, 31 Million hotel tax, 15.75 Million farm house tax. Excise has also collected education tax of 21 Million Rupees, cotton levy 645 Million and 84 Million of Entertainment duty.
Luxury Tax will be received after getting decision from The Lahore high Court as case is in the court. Department is serious regarding this case and is pursuing it to get decision of the case as soon as possible.
Mr Masood told that total recoveries as compared to the last same period are increased, there was 9.6 Billion which now increased by 10 percent and reached to the new all time higher level of 10.6 Billion. In coming six months department is expected to recover 43 percent of the property tax after the completion of computerization of property tax record.
