KARACHI: The provincial cabinet has given the approval to transfer the urban immovable property tax management from the excise and taxation department to the local government department.
This allows local councils to collect urban property tax and manage all the affairs related to the urban immovable property tax collection.
The transfer of urban property tax collection to the local councils, according to Local Government Minister Syed Nasir Hussain Shah, would significantly increase their resources.
The secretary of local government, Najam Shah, revealed that Karachi currently has about 840,000 taxable units and vowed that the tax generation from these units would be increased in the upcoming days
It is relevant to mention here that the Federal Board of Revenue (FBR) has also prescribed a form for taxpayers for the payment of tax on immovable property in the capital region.
