Ghazan Holds Out Assurance For Abolishment Of Property Tax In Peshawar Industrial Estates

Ghazan holds out assurance for abolishment of property tax in Peshawar industrial estates

PESHAWAR, (UrduPoint / Pakistan Point News - 26th Feb, 2021 ) :Special Assistant to Chief Minister on Excise and Taxation, Syed Ghazi Ghazan Jamal has held out assurance regarding 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 held under chairmanship of Sarhad Chamber of Commerce and Industry president Sherbaz Bilour here at the chamber house on Friday, says a press release issued by SCCI.

The SACM said the incumbent government is committed to boost industrialization in the province and for this purpose consultation has been initiated by taking all relevant departments to end double/triple 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.

CM aide informed that the property tax would be abolished in 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.

Ghazan Jamal admitted that the role of private sector is vital for creating job opportunities, assuring that the provincial government will fully support and provide relief to every extent.

He also disclosed that the government intends to bring 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 collection of double and triple taxes as completely unjust with the business community and initiatives are being taken to abolish dual taxation, he added.

Whereas, he assured that the ratio of taxes would be further reduced in order to attract investments and promote industrialization in the province.

The CM aide said that the provincial excise and taxation department is taking measures to put in place tax collection system. For this purpose, he added that mobile applications would be launched soon to pay all taxes through the online system.

He ruled out extension on the date of payment of property taxes. He assured on the occasion that he will play a role in holding a meeting between Chief Minister Mahmood Khan and businessmen.

Earlier, SCCI chief Sherbaz Bilour voiced concern over issuance of tax-notices to the trading community despite assurance of SACM Ghazi Ghazan Jamal for abolishment 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 unjust, asking the government to take immediate notice.

Ghazanfar Bilour called for ending double and triple taxation and extending special incentives and relief to the business community to attract new investment and promote industrialization in the province. He also floated a suggested for introduction of a fixed tax regime.