Excise and Taxation Department (region B) commenced the distribution of luxury tax forms, in the areas of Model Town, Gulberg, Johar Town and Garden Town, today. The forms are being distributed among the houses comprising of an area greater than or equal to 2 Kanals.
The luxury Tax is to be paid only once and the capacity of paying in installments has also been offered. Those who shall be unable to pay the tax within the due date shall be required to pay 1% of the total tax as an arrear.
It is decided that at the initial stage the Challan forms shall be distributed among the 250 houses of the posh areas of the provincial capital. According to the budget proposed by the Government of the Punjab, it was decided that luxury tax shall be imposed on houses built on an area of 2 kanal or more. It was also decided that the 2 – 4 kanal houses shall be required to pay PKR 5 Lakhs, 4-8 Kanal houses to pay PKR 10 Lakhs and houses comprising of an area greater than 8 kanals to pat PKR 15 Lakhs. It has also been reported that a survey of 5 Marla houses is in process in the posh areas and imposition of luxury tax on 5 Marla houses is also expected in future.
