LAHORE: Imran Khan, Chairman of Pakistan Tehreek-i-Insaf (PTI), has finally settled the luxury tax amounting to Rs. 1.44 million for his seven-kanal residence in Zaman Park.
The payment was made to the Excise & Taxation Department, and a document confirms the Rs. 1.440 million cash deposit into the department’s account at the National Bank of Pakistan.
Earlier in May, the department issued a notice to the property owners, listed in the name of Ms. Shaukat Khanum, requesting the payment of the luxury house tax by May 12.
However, the tax was not paid within the specified time frame, leading to the issuance of another notice, extending the payment deadline to May 22.
It is worth mentioning that on April 13, the department served a notice to Imran Khan’s Zaman Park residence, seeking information about the property size and other details to calculate the luxury tax.
This notice informed the property owners, registered under the name of Shaukat Khanum, about the imposition of a luxury tax by the provincial government from July 2014, by Section 8 of the Punjab Finance Act 2014.
According to the department, the previous house on the plot, built in 1970, was demolished in 2018 and a new house was constructed in 2020, which falls under the category of a luxury house.
As per the Punjab Finance Act 2014, a house with a size of two kanal or above and a covered area exceeding 6,000 square feet, constructed between January 1, 2001, and June 30, 2022, is subject to a tax ranging from Rs. 100,000 to Rs. 200,000 per kanal, depending on the neighborhood.
Similarly, a house measuring eight kanal or above, with a covered area exceeding 12,000 square feet and built during the same period, incurs a tax ranging from Rs. 200,000 to Rs. 300,000 per kanal (up to a maximum of R. s2.4 million to Rs3.6 million).
“After receiving the information provided by the property owners, the department assessed the tax, which amounted to Rs. 1.440 million.
Following the two notices served, Imran Khan paid the tax on May 22,” stated the official.
Source: DAWN
