KARACHI: The government is seriously considering imposing tax on luxurious bungalows and houses above ten marlas. According to sources of Excise and Taxation Department, Rs 10,000 tax will be imposed on the houses built on more than 10 marlas. Sources further revealed to Customs Today that the Federal Board of Revenue is taking measures to bring more people into tax net and for this purpose if a person has income of Rs 400,000 per year, persons having 1000 CC cars and above will have to pay withholding tax from Rs 5000 to Rs 10,000.
These taxes can be deposited in the office of the Excise and Taxation. The owners of luxurious homes can minus their Withholding Tax amount from their total tax amount. Final decision in this regard will be taken on a meeting which will be held on May 24, 2015.
