News Desk
ISLAMABAD: The Excise and Taxation Department has announced a significant relief for property owners, stating that houses and residential plots valued at up to Rs5 million will be exempt from property tax. This decision follows the approval of the provincial cabinet and has been formalized in a notification issued by the Directorate General of Excise and Taxation.
According to the notification, future property taxes will now be determined based on the district collector’s (DC) rate, providing a more localized and transparent approach to taxation. Furthermore, citizens have been assured that they will not be required to pay any additional property tax for the current fiscal year, a measure aimed at alleviating immediate financial burdens on property owners.
Umar Sher Chattha, the Director General (DG) of Excise and Taxation, also introduced a relief measure allowing taxpayers to pay only 25% of the total property tax due for this fiscal year. This initiative is part of a broader effort to make the tax system more manageable and less cumbersome for citizens. In addition, a self-assessment mechanism has been launched, enabling citizens to calculate their property tax independently.
