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Punjab govt revises property, motor tax rates
by Our Staff Reporter July 09, 2023 in Regional, Lahore, Newspaper
LAHORE - Caretaker Punjab government has approved several amendments in the property tax and motor vehicle tax rates across the province. Punjab caretaker cabinet approved these proposals sent by the Secretary Excise, Taxation and Narcotics Control Department (ET&NC) in the recent meeting. The cabinet permitted the department to conduct a fresh survey for assessment of property tax in Punjab. Director General Excise & Taxation Muhammad Ali told media here Saturday that the new survey was planned to be conducted from July to December this year, while the assessment of property tax based on the current survey has been extended till December 31, 2023. He hoped that from January 1, 2024, property tax would be assessed according to the new survey. Earlier, the survey of immoveable properties for property tax was conducted in 2014. Among other amendments, the registration fee for 1501 to 2000cc vehicles has been reduced from three to two percent, the DG excise said and added that government has extended the 95 percent tax exemption for electric vehicles till 2025, while the token tax on seven-seater vehicles would be charged according to their engine capacity, which was earlier charged at fix rate of Rs. 2500. He said that the cabinet has also given permission to revise the rate of transfer fee for vehicles after 2004. Through another amendment, the cabinet approved to increase the vend fee of alcohol from Rs 1,600 to Rs 2,500 and the beer from Rs 85 to Rs 300 per litre. Similarly, the LPG levied on the manufacture of beer has been increased from Rs 12 to Rs 25 per liter and after a gap of 18 years, the fee levied on the manufacture of alcoholic products and its raw materials has been increased from Rs 600 to Rs 1200. Meanwhile, Punjab Agriculture Secretary Iftikhar Ali Sahoo has said that strict action was being taken against those involved in selling of spurious and substandard pesticides for ensuring the availability of quality pesticides. He was presiding over a review meeting regarding current situation of cotton at Civil Secretariat on Saturday. Punjab Agriculture Pest Warning Director General Rana Faqir Ahmad briefed the meeting that in some areas the attack of whitefly, leafhoppers and thrips had been observed. |
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