Lahore: According to news reports, the Punjab Excise and Taxation (E&T) Department has declared its intention to tax 5-marla houses belonging to all groups, rather than the current practice of taxing only A-category 5-marla houses.
According to reports, the provincial E&T Department has proposed taxing these homes based on their rental value. The plan was sent to the provincial government for approval and implementation in the coming fiscal year. The department has announced that it has rates tables for all of the province’s regions.
According to the proposed bill, house owners with an annual income of PKR 225,000 would be required to pay 5% of their annual income as property tax. The government will have to approve the final decision in this matter.
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