LAHORE: The Punjab Excise and Taxation Department, Lahore Region, has collected Rs 0.95 billion in property tax during the first nine months of the financial year 2015-16. The Federal Board of Revenue (FBR) has assigned Rs 1.5 billion target to the Punjab Excise and Taxation Department for the year, out of which 70 percent has been collected, that is 14 percent more from the previous year.
Source told Customs Today that for further recovery, the Punjab Excise and Taxation Department has started crackdown against the defaulters in Lahore Region on the directions of Director General Akram Ashraf Gondal.
Excise and Taxation speed up the recovery campaign and started raids against those defaulters who failed to submit property tax despite recieving the tax notices.
Source said that excise and taxation department will collect property tax with fines and will seal the properties of defaulters.
