Rawalpindi: Rawalpindi Excise and Taxation Department has decided to speed up the luxury tax collection process in the city, according to a news source.
The luxury tax was introduced in 2013 for houses that were 2-kanals in size, or bigger; and were constructed after 2001.
According to details, in Rawalpindi, the luxury tax is applicable on houses in urban areas, and new territories included in the rating areas recently. In the Rawalpindi Division, the tax target was set at PKR 110 million.
The luxury tax is payable only once and is set at PKR 200,000 for a 2-kanal luxury unit. For every one kanal added to the 2-kanal house, the payable luxury tax increases by PKR 100,000.
According to Excise Department officials, teams have been made to collect these taxes so that the maximum possible amount can be recovered before June 30 this year.
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