Lahore: The Punjab government has notified its intent to reduce the professional tax applicable on the various services provided by doctors and hospitals to 0% in Fiscal Year 2020-21 from the current 16% and 5%, respectively — according to news sources.
Finance Minister Makhdoom Hashim Javan Bakht shared the proposal during his budget speech on Monday. Announcing the measure recommended for various service providers, the minister also announced the government’s intention to reduce tax on provision of various services, including real estate agencies, from the current 16% to 5%.
He further stated that real estate developers and builders registered as taxpayers with the authorities concerned will pay 0% tax for providing construction services. Bahkt also proposed imposition of 5% tax on customers paying bills at restaurants and saloons via credit and debit card instead of the regular 16% deducted from cash payments.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
