Updated on
Summary The Punjab govt has decided not to impose new taxes while the current tax net would be expanded.
The Punjab government has moved the summary to the governor calling assembly session to present the provincial budget for fiscal year 2011-12.The decision was taken after the talks between the Punjab chief minister and the PML-Unification Block.According to sources, no new tax would be imposed in the budget while the city would be divided into different categories to expand tax net by raising property tax.The sources disclosed that the tax exemption on 5-marla houses would be withdrawn while up to 50 percent tax ratio on the large houses has been suggested.Meanwhile, increase of registration and token tax on more than 1000 CC vehicles has also been suggested.However, these suggestions would finally be approved in a meeting of the provincial cabinet before the budget. The Punjab government forwarded last year’s budget requisition to the Punjab Governor who issued the notification after correction of date.
