Islamabad: The federal government has decided to revise DC rates implemented by the relevant tax collectors on immovable properties countrywide, a news source reported.
Finance Minister Asad Umar chaired a meeting to this effect in Lahore last week. As per reports, he directed the officials concerned to convene a meeting of the revenue boards and taxation departments of Punjab, Sindh, Balochistan, and Khyber Pakhtunkhwa.
The meeting is expected to deliberate on the proposal to increase the DC rates of agricultural land, residential plots, houses, plazas, farm houses, shops, and other immovable properties.
Javed Ahmed, chairman of the Punjab Revenue Authority (PRA), said that last week’s meeting took notice of the difference between FBR’s property valuation rates and DC rates.
He said that Punjab continues to face an annual revenue shortfall of PKR 70 million due to varying DC rates – which amount to 33% in some districts and six-percent in others.
