Lahore: The Punjab Excise and Taxation Department has taken notice of 643 luxury houses spanning 2 kanals of land or more against which luxury tax wasn’t being paid, reported a news source. Ever since the luxury tax was implemented on houses, only 1,825 houses were included in the record.
To increase the tax net in Punjab, Excise Minister Hafiz Mumtaz Ahmed had given special task to Excise Director Shekeel Ur Rehman Khan. Speaking to the media, Khan said that the process to identify luxury houses for collecting luxury tax has been sped up and the newly spotted 643 units are part of the drive.
He also shared some interesting facts and mentioned tax collected from luxury properties so far is over 1.38 billion. Khan also indicated that there is room for further growth under this tax head. Speaking about taxing empty plots in Punjab, Khan said that measures are being taken to bring owners of vacant plot under the tax net as this will considerably increase the tax revenue.
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.
