KP Imposes Taxes On Properties, CNG Stations, Petrol Pumps Etc

PESHAWAR, June 7 (UrduPoint / Pakistan Point News - 07th Jun, 2017 ) : Khyber Pakhtunkhwa government in its Finance Bill 2017 has proposed increase in tax ratio, imposition of new taxes on Immoveable urban property, CNG plus general store, petrol pumps and service stations.

The finance bill was presented by the Provincial Minister for Finance, Muzaffar Said in the provincial assembly on Wednesday. According to revenue proposals of finance bill, tax ratio on immoveable urban property is being increased by 50% while tax on personal residence in the provincial metropolis, the tax ratio on five marla category A house has been increased from Rs.1000 to Rs.1500, Category B (from Rs.900 to Rs.1300) and Category C (from Rs.750 to Rs.1100) respectively.

Similarly, tax on 5 marla to 10 marla category A has been increased from Rs.1700 to Rs.2500, Category B (from Rs.1600 to Rs.2400) and Category C (from Rs.1500 to Rs.2300 respectively. Furthermore, for immoveable urban property on over 10 marla to 15 marla for category A has been increased from Rs.2200 to Rs.3300, category B from Rs.2100 to Rs.3100 while tax on Category C has been increased from Rs.2100 to Rs.3000 respectively.

Tax 15 marla upto 18 marla category A immoveable urban property has been proposed to increase from Rs.3300 to Rs.4800, Category B from Rs.3200 to Rs.4700 and Category C from Rs.3000 to Rs.4500 while increase in tax for Category A immoveable property of over 30 marla to 40 marla has been proposed from Rs.20000 to Rs.30000, Category B (from Rs.18000 to Rs.27000) and Category C (from Rs.16000 to Rs.24000) respectively.

Tax on category A immoveable property of over 40 marla has been increased from Rs.

30000 to Rs.45000, Category B (from Rs.25000 to Rs.37500) and Category C (from Rs.20000 to Rs.30000). Similarly, Property Tax, on the CNG stations and petrol pumps having general store has been increased from Rs.15000 to Rs.22500 while tax on CNG stations and petrol pumps sans such facilities with have been increased from Rs.7500 to Rs.11300.

An annual Property Tax of Rs.20000 has been proposed on service stations. Furthermore, ratio of professional tax on all Mudarba companies and mutual fund corporate bodies' has also been reviewed tax on income upto Rs.10 million but not exceeding Rs.25 million has been proposed at Rs.36000, while tax on income from over Rs.25 million to Rs.50 million has been increased from Rs.36000 to Rs.50000.

Similarly, professional tax on non-specialist doctors has been proposed to increase from Rs.2000 to Rs.10000 and professional tax on Diagnostic Laboratory from Rs,15000 to Rs.20000 while professional tax on CNG station, petrol pump has been increased from Rs.8000 to Rs.12000 while ratio of service stations has been proposed to increase from Rs.5000 to Rs.8000 respectively.

Furthermore, Professional Tax on cable operators has been proposed to increase from Rs.1000 to Rs.10000 whole sale dealers, agency holders and medical stores which were earlier exempted of professional tax will pay Rs.10000.

Similarly, tailors sewing only shirt and trouser will have to pay professional tax of Rs.2000 while those sewing shirt, trouser and waistcoat will pay tax of Rs.5000 and those beside sewing shirt, trouser and pant-shirt will have to pay Rs.10000 annual tax.