LAHORE: Excise and Taxation (E&T) Punjab Director General Humayun Mazhar Sheikh has said that the department will collect Rs 20.8 billion tax during the fiscal year 2013-14.
During an interview with APP here Friday, he said "The E&T department has achieved 98 percent of the tax collection target during the current fiscal year as 16.8 billion rupees have so far been collected from Rs 17 billion set by the Punjab government which is 27.8 percent higher than the fiscal year 2011-12".
To a question he said that the Excise department collects tax under 10 heads including motor vehicle tax, property tax, excise tax, professional tax, hotel tax and cotton tax.
Regarding tax on luxury houses, the DG Excise said that the department would collect additional Rs 1500 million from the tax on luxury houses and 5 marla houses in the A category housing societies like Shadman, Gulberg, Model Town, Garden Town, and Shah Jamal in Lahore.
Regarding A category housing schemes in Faisalabad, Humayun Mazhar said the areas included Madina Town, Peoples Colony and Sittara Valley Civil Lines while Satellite Town is the only A category housing society in Rawalindi.
"There is no A category housing societies in other districts of the province as per the Punjab Urban Immovable Property Tax (PUIPT) Survey 2002," the DG responded.
He said that the PUIPT Survey must be held after every 5 years as per law but the survey could not be conducted during the past ten years, adding that PUIPT Survey will be launched from July 1, 2013 which would help to increase the tax net to almost double the size.
The DG said that the survey would be held from July 1, 2013 to December 31, 2013 by the department with technical assistance from the Urban Unit.
He said the property tax ratio has been reduced from 25 percent to mere 10 percent in the budget 2013-14.
To a query he said that the department has made maximum tax collection in the motor vehicle tax.
About the tax collection, he said that Rs 8.03 billion were collected from the Lahore Division from a target of Rs 8.75 billion, Rs 2 billion from Multan Division from a target of Rs 2.38 billion, Rs 1.429 billion from the Rawalpindi Division out of Rs 1.43 billion, adding that the minmum revenue was collected from the Sargodha Division where the department could collect only Rs 558 million from a target amount of Rs 739 million.
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