Punjab Finance Minister Hashim Javan Bakht has opposed property tax exemption on five marla houses. In a meeting of the Resource Mobilization Committee, the Finance Minister objected and said that there was no justification for property tax exemption on 5 marla houses. Property tax exemptions should be based on the value of the property.
The immovable property act 1958 should be revised. The Department of Excise, PRA, should prepare recommendations in consultation with the Board of Revenue. In the past, 5 marla houses were exempted from property tax.
Extracted from City42 News