Gujranwala: The Excise and Taxation Department has started to issue property tax notices to owners of 250,000 commercial and residential units in the division, a news source reported. The department has taken the move to meet its PKR 1 bn tax-collection target for the fiscal year 2019-20.
In this regard, the Excise Department has also assigned the tax collection task to the respective Excise and Taxation Officers of the six divisions in Gujranwala Division; Gujranwala, Gujrat, Sialkot, Narowal, Mandi Bahauddin, and Hafizabad.
Sources claims that the department will complete the process to dispatch these notices by September 10. As soon as all the notices are sent, the department will initiate the process to start collecting overdue property tax.
In order to promote payment for property taxes and encourage the taxpayer, the Excise Department has offered a 5% discount to people clearing their dues before September 30. Furthermore, taxpayers failing to clear their dues by this date will be penalised. In addition, the department will also start sealing buildings of the owners who did not pay property taxes on time.
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.
