Islamabad: had to come to the net is canceled luxury tax to contribute approximately Rs500 million to the state annually about 1,200 sprawling homes and large residential houses located in Islamabad capital territory (ICT).
The capital development authority (CDA), experience shows that there are a total of 500 houses in the vicinity of the capital 610 luxury dwellings in various sectors of Islamabad, which would net the tax was a new tax proposed in the Federal budget was withdrawn during final adoption in the National Assembly. These premises do not include the number of houses which, though in the field of ICT not to fall into the CDA-approved housing schemes.
The Ministry of the interior proposed a luxury tax that, according to the Federal Board of revenue (fbr), was withdrawn during approval of the budget. He suggested that the new tax will be levied Department of excise and taxation of ICT.
In particular, the CDA also opposed the introduction of the luxury tax, pointing out that the civil body/capital Corporation Islamabad (MCI) is already charging a tax on the property out of the house and large mansions.
In a letter to the interior Ministry, the CDA said that the Directorate, OOO CDA/MCI is the collection of property tax in the municipal boundaries of the Federal capital. He said that the luxury tax will be in addition to that. He noted that the property tax in ICT was introduced in 1991 with the approval of the Federal government, while a similar tax on agro-farms was introduced in July 2019 after the approval of the Chamber of local authorities of MCI in accordance with section (88) of the local government act, 2015.
The letter emphasized that the Department of revenue is the collection of tax on property with established homes and houses in g-6, f-7 and F-series, and is situated on Murree road, chak Shahzad and near Sihala.
In addition to the CDA of the opposition, many owners of spacious homes also rejected a tax on luxury dubbing it as discriminatory on the basis it was introduced only in Islamabad and anywhere in Pakistan.
Current and former MPs and others belonging to different political parties who own houses in the garden scheme and the suburbs of Islamabad include Senator Talha Mahmood, a former Senator Abbas Afridi, Dr. Tariq Fazal Chaudhry, the family of the late Makhdoom Amin Fahim, the brother of Raja Pervez Ashraf, former chief of the Pakistan Bait-ul-Mal Abid Sheikh, a lawyer known Saifullah family (three farms), former Chairman Senate Wasim Sajjad, Senator Dr. Wasim Shahzad and former Senator Anwar asked but the senior lawyers, Iftikhar Gilani, Sheikh Akram and Syed Ali Zafar.
Of the Cabinet, who also own homes include Azam Swati, Babar awans and Dr Sania Nishtar (one chak Shahzad). Other owners of chak Shahzad farm gen (R) Pervez Musharraf, gen (R) Zubair Hayat, Lieutenant General (R) Naveed Mukhtar, Lieutenant General (R) Sajjad Ashraf Ghani Ahmadzai, gene (R) of Insanally, air Marshal (R) Abbas Khattak, and major gen (R) Dr. Mahmoud al-Azhar kiyani. Prime Minister Imran Khan house is located in Banigala.
CDA offered in MIA details of the property tax already charged for large homes (one to five Canals or higher) and rural houses. He said to G-6 sector land, the tax rate is 10 rupees/sq m plot area and Rs12/sq. m of covered space. He is charged Rs12/sq m plot area and Rs15/sq. m of covered space in E-7 sector. CDA becomes PC2/sq. m total area and RS6/sq. m covered area of agro-farms.
However, he gave liberation to widows on the basis of legislative provisions – a house, apartment or apartments owned by the widow, if she owns no other built up areas of Pakistan. The exemption is also available for minor children of widows and unmarried daughters after her death.
According removed the offer of the Ministry of internal Affairs is incorporated in the Federal budget 2020-2021, the luxury tax Rs100,000/channel was recommended for a residential building of two Canals four Canals with closed area of 6000 sq. ft. Levey Rs200,000/Channel was proposed in the house of five Canals or above with an area of over 8000 sq.ft.
Tax Rs25/sq. m covered area, it was proposed to House four Canals, including the area under farming, with the area from 5000 sq to 7000 sq. ft. House with covered area between 7,001 sq m and 10,000 sq m was a tax Rs40/sq. m in a closed area. Had a house with a covered area of 10 000 square feet to pay RS 50/ sq m of covered space.
The house more than five channel, including the area under agriculture with a living area of 5000 sq m to 7000 sq m was recommended to pay Rs60/sq. m of covered space. House with covered area between 7,001 sq m to 10,000 sq m was imposed Rs70/sq. m of covered space. Had a house with a covered area of 10,000 sq. ft. charged Rs80/sq. m of covered space.