LCCI establishes Excise & Taxation Help DeskOctober 12, 2014
Lahore: The Lahore Chamber of Commerce & Industry has established “Excise & Taxation Help Desk” at its premises.
The decision was taken at a meeting presided over by the LCCI Vice President Syed Mehmood Ghaznavi and attended by former LCCI President Sheikh Muhammad Asif, Executive Committee Member Nasir Saeed, former Executive Committee Member Ghulam Sarwar Malik, Director Region A, Excise & Taxation Department Ashraf Gondal and Inspector E&T Shuja ud Din.
After detailed deliberation, the committee finalized that a help desk would be established at LCCI immediately to address the complaints of members regarding receiving challans bearing excessive property tax amounts.
Speaking on the occasion, LCCI Vice President Syed Mehmood Ghaznavi said that business community endorsed the 50% increase in Property Tax rate with a three year cascading formula (20-20-10) provided if the department notifies that no further increase therein would be made in the next five years.
He said that the department should give relief to such tax payers who have already deposited their taxes by adjusting the remaining amount in the forthcoming year. He said that a comprehensive awareness campaign through electronic and print media would be launched to duly convey the exemptions available to the masses.
LCCI Vice President said that 20% concession available for old residential property may be enhanced to 30% and the period of 5% rebate on full and final payment of property tax should be extended to November 30, 2014 which ended on September 30, 2014.
He said that automation process should be expedited to eradicate human involvement in the issuance of undue notices.
Director Region A, Excise & Taxation Akram Ashraf Gondal informed the participants that annual rental value of residential property is up to Rs.1620 and of commercial property is up to Rs.1080.
He said that an amount up to Rs.12150 per annum on the property owned by widow/minor orphan/disabled person is tax exempted, exceeding amount is to be paid and other co-owners would be taxed.
He said that retired government servants (Federal/Provincial) owning a residential house up to 1 kanal, if partially rented, the residential part of the property will be tax exempted while a residential house up to 5 Marla, if partially used for commercial purpose, the residential part of the property will be tax exempted.
He said that property tax exemption would be allowed to the retired employees of corporate/Autonomies bodies managed by Federal/Provincial governments.
Meanwhile, the LCCI President Ijaz A. Mumtaz has appealed to the businessmen to approach the “Excise & Taxation Help Desk” if they have any complaint regarding excessive property tax.