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Punjab to tax big houses, luxury items in budget

Punjab to tax big houses, luxury items in budget

LAHORE: The Punjab government will impose a new tax on big houses and luxury items in the next fiscal year, and rates of route permit and fitness certificate of vehicles will be increased with aim to enhance revenue.

Punjab Finance Minister Mujtaba Shujaur Rehman expressed these views while presiding over a resource mobilisation committee meeting.

MPAs – Sheikh Allauddin, Dr Nadia Aziz, Qamarul Islam Raja as well as secretaries and senior officers of the Finance, Excise and Taxation, Irrigation, Housing and Agriculture departments and the Punjab Revenue Authority chairman and Member Board of Revenue attended the meeting.

He also said tax would also be imposed on restaurants of food streets, hotels, guest houses and private educational institutions. “Tax will also be collected from the owners having more than 12.5 acres of land, however, income limit would be enhanced. The government is making revenue collection system simple besides expanding tax net,” he added.

According to him, public welfare and development projects are completed through collection of taxes and the government will expand tax net for this purpose. Punjab Excise and Taxation Department will evolve a comprehensive strategy for evaluation of properties. Property and other taxes will be deposited online from any part of the province and problems faced by common man will be kept in view at the time of new taxation.