Thursday January 26, 2023

Property tax abolition on 2 industrial estates promised

By Bureau report
February 27, 2021

PESHAWAR: Special Assistant to Chief Minister on Excise and Taxation Syed Ghazi Ghazan Jamal on Friday announced abolishing property tax for Hayatabad Industrial Estate and Small Industrial Estate, Kohat Road, Peshawar, from the next financial year.

He made this announcement while meeting industrialists headed by Sarhad Chamber of Commerce and Industry (SCCI) President Sherbaz Bilour at the Chamber’s House, said a press release issued by the SCCI.

The meeting was attended by the SCCI Senior Vice-President Manzoor Elahi, Vice-President Junaid Altaf, Ghazanfar Bilour, Maqsood Anwar Pervaiz, Malik Niaz Ahmad, Zulfiqar Ali Khan, Riaz Arshad, Muhammad Naeem Butt, Ahmad Mustafa, Muhammad Tariq, Industrialists Association Hayatabad President Zarak Khan, Small and Medium Enterprises Development A

The special assistant said the government was committed to boosting industrialization in the province. He said the consultation process had been initiated to take all relevant departments to end the multiple taxations.

Ghazi Ghazan said 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 had notified the collection of property tax on the basis of measurement instead of rental value.

He added the steps were being taken to boost industrialization as well as the revival of trade and economic activities. For the purpose, he said, all facilities were provided to businessmen in the province.

The special assistant admitted that the role of the private sector was vital for creating job opportunities. He assured that the KP government would fully support and provide relief to the sector. He said the government intended to bring holistic changes in the finance bill for the year 2021-22, meant to give maximum relief to the business community in various taxes.

Earlier, SCCI chief Sherbaz Bilour voiced concern over the issuance of tax notices to the traders despite the assurance by Ghazi Ghazan for abolishment of additional taxes and the abolishment of property tax from the industrial estates in Peshawar.

He complained that the Khyber Pakhtunkhwa Revenue Authority had deducted 15 per cent tax by declaring traders as withholding agents, which, he said, was an injustice, asking the government to take immediate notice of the issue.

The SCCI chief called for ending double and triple taxation and extending special incentives and relief to the business community. He also suggested the introduction of a fixed tax regime.