Karachi: The Sindh Excise & Taxation Department on Thursday announced its decision to reduce property taxes by 25% for Financial Year 2019-20, a news source reported. According to the notification issued, the reduction also applies to the surcharge for all classes of persons pertaining to any category of property.
It added that the reduction of 25% is applicable on all taxable property units in the wake of the ongoing coronavirus situation in the province. It stated that individuals who have already submitted their Property Tax Liability for FY2019-20 would receive an adjustment of 25% reduction in their tax liabilities during the next financial year.
The Sindh Excise Department took the decision due to lockdown imposed because of the COVID-19 pandemic. In this regard, the department has exercised its powers under the sub-section (4) of section 3 of the Sindh Urban Immovable Property Tax Act 1958 (V of 1958).
