KP CM's Aide Pledges Abolition Of Property Tax On Industrial Estates

PESHAWAR, (UrduPoint / Pakistan Point News - 26th Feb, 2021 ) :Special Assistant to KP CM on Excise and Taxation, Syed Ghazi Ghazan Jamal has announced the abolishment of 'property tax' for Hayatabad Industrial Estate and Small Industrial Estate Kohat Road Peshawar from the next financial year.

He made this announcement while talking to industrialists during a meeting at Sarhad Chamber of Commerce and Industry (SCCI) with its president Sherbaz Bilour in the chair here Friday.

The special assistant said that the incumbent government is committed to boost industrialization in the province. He assured that the consultations have been initiated by taking all relevant departments to end multiple taxes.

The meeting was attended by the SCCI Senior Vice president Engr Manzoor Elahi, vice president Junaid Altaf, former president FPCCI Ghazanfar Bilour, former presidents Engr Maqsood Anwar Pervaiz, Malik Niaz Ahmad, Zulfiqar Ali Khan, Riaz Arshad, executive committee members Muhammad Naeem Butt, Ahmad Mustafa, Muhammad Tariq, Industrialists Association Hayatabad Peshawar president Zarak Khan, Smeda provincial chief, Rashid Aman, industrialists, exporters and importers were present in a large number.

He informed that the property tax would be abolished on Hayatabad Industrial Estate and Small Industrial Estate Kohat Peshawar through a finance bill in the upcoming fiscal year.

Similarly, he said the government has notified collection of property tax on the basis of measurement instead of rental value. He furthermore added that the steps are being taken to boost up industrialization as well as revival of trade and economic activities.

For this purpose, he said all facilities were provided to businessmen in the province.

He acknowledged the vital role of private sector in job creation and assured that the provincial government will fully support and provide relief to them. He informed that the business community about intensions of the government for bringing holistic changes in the Finance Bill for FY 2021-22, meant to give maximum relief to the business community on various taxes.

Ghazi Ghazan termed double and triple taxations as injustice with the business community and said that initiatives were being taken to abolish dual taxation. He assured that the ratio of taxes would be further reduced in order to attract investments and promote industrialization in the province.

He ruled out extension in the date of payment of property taxes. However, he assured he will play role in arranging a meeting between Chief Minister Mahmood Khan and business community of the province. He said that chief minister is keen to address genuine grievances and problems of the business community as he is taking practical steps to resolve the businessmen issues.

Earlier, SCCI chief Sherbaz Bilour voiced concern over issuance of tax-notices to the trading community despite the assurance of Special Assistant Ghazi Ghazan Jamal for abolition of additional taxes and abolishment of property tax from the industrial estates in Peshawar.

He also complained that Khyber Pakhtunkhwa Revenue Authority has deducted 15 per cent tax by making traders as withholding agents, which was completely unjustified and urged the government for taking immediate notice.