Hike in Property Taxes Reverted by Excise Rawalpindi
According to the most recent reports, the Excise, Taxation, and Narcotics Department of Rawalpindi has rescinded its announcement of an 80% increase in annual property taxes. The department has revoked the identical notification for all properties in Punjab.
Read: Everything You Need to Know About Property Taxes in Pakistan
According to the specifics, the new tax notices would be sent to approximately one hundred thousand property owners. The authorities have given the relevant personnel till December 25 to issue the new tax notices. According to the sources, the new letters regarding tax payments will be distributed with a 10% discount.
Read: FBR Registered a 45% Increase in Income Tax Returns in 2021
It is also claimed that property owners who pay their delinquent taxes using e-pay by December 31 would receive a 10% reduction. This means that if you pay off your Rawalpindi property taxes by the end of 2021, you will pay 20% less tax than the previous year.
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