KARACHI: Sindh Excise and Taxation Department Director (Property Tax) Akhtar Azad has said that the department has evolved a new formula to tax owners of portions subleased from a single unit and sold to different persons.
Under the new formula, the owners of all portions of a single unit would be charged with property tax separately, he said, adding that since this was a new trend in property transactions the department was prompted to take new measures to prevent the revenue loss.
The Property Tax director said if the trend of selling portions of a single unit gained momentum the revenue from property tax would also be increased. He claimed that the property tax enforcement and assessment system had been fully computerised and electronic challans were being issued to the owners since August this year.
The computerisation of tax procedures had eliminated chances of corruption, which he said was rampant in the manual system.
