Punjab Exercise Department To Collect Empty Plot Tax Across Pakistan, How Much Tax ? Budget 2024
The Punjab Excise Department has decided to start collecting property tax from vacant plots across the province, including Lahore.
According to Additional DG Rizwan Sherwani, they will conduct geo-tagging to identify individuals who fail to pay taxes on vacant plots.
Geo-tagging will help identify all the vacant plots within the rating areas. There are over 115,000 vacant plots in the tax net across Punjab, including Lahore.
He added that the majority of vacant plots, over 70%, are located in large societies in Lahore. Through geo-tagging, more than 0.3 million vacant plots will be brought into the tax net.
Empty plots are subject to annual taxes ranging from Rs. 3,000 to Rs. 12,000 based on the rating area’s value. The addition of new plots to the tax net is projected to boost annual revenue by one to one and a half billion rupees.
LAHORE: The Punjab Excise Department is working to start collecting property tax from vacant plots across the province.
As per the details, Additional Director General Excise Punjab Rizwan Sherwani has announced to conduct geo-tagging to identify individuals who do not pay taxes on vacant plots.
With the new exercise, excise officials will locate all vacant plots within Punjab. Initial reports suggest over 1 lakh plots in Punjab, mostly in Lahore.
Excise Additional DG Punjab has said that over 70 percent of these plots are in upscale areas in Lahore. Through geo-tagging, a large number of vacant plots will be included in the tax net.
Read more: FBR to issue new property rates with higher tax from July 2024
For the unemployed, taxes on empty plots start at Rs3,000 to Rs12,000 per annum, based on the area’s value.
The Punjab government is also working with PTA and telecom operators to block SIM cards belonging to over half a million non-filers in Pakistan amid tightening rules around tax evaders.
The Punjab government is also working with PTA and telecom operators to block SIM cards belonging to over half a million non-filers in Pakistan amid tightening rules around tax evaders.
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