Property Tax Enforced On 56000 Units

[Salman]

Property Tax Enforced On 56000 Units

Lahore – Excise Department has included 56,000 property units in the new housing societies of region B into its system. The department has also enforced property tax on these units through which an estimated tax revenue of Rs. 90 million per annum will be received.

By including these 56,000 property units into the system, number of tax payers has increased to 385,000. The property tax budget of region B is Rs. 2 billion, out of which 78 per cent of the budgeted tax has been recovered by the Excise Department.