Local Govt Request RS 4 Billion in View of Property Tax Exemption
Peshawar: According to news sources, the Khyber Pakhtunkhwa (KP) Local Government (LG) has asked the provincial government for PKR 4.8 billion after advising Tehsil Municipal Administrations (TMAs) to waive property taxes in the new fiscal year.
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According to the given information, the KP government has urged TMAs not to collect property tax for the fiscal year 2021-22, subject to the local government’s opinion. PKR 4 billion has reportedly been offered to TMAs as compensation for non-collection of property tax in the upcoming fiscal year (FY 2020-21), based on data acquired in the previous fiscal year.
In contrast, the department is requesting a 20% increase in funding for the same relaxation in FY 2021-22.
Previously, the KP government waived property taxes until June 30 because to the ongoing coronavirus outbreak, resulting in a decline in revenue for TMAs.
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The local council board reevaluated that the KP government had pledged a grant of PKR 4 billion for TMAs in exchange for waiving 2% property taxes; but, due to delays in cash transfers, the TMAs were unable to pay the salaries of their staff.
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