ISLAMABAD: The prime minister Nawaz Sharif has approved a summary to increase property and water taxes in the urban areas of Islamabad. However, a final decision will be taken by the federal cabinet.
After the approval by the cabinet, property tax would be increased by 100 percent for commercial buildings.
But tax for small residential units would be increased by around 20 percent.
Sources in the civic body said that the average increase in the property tax would be 60 percent.
“However, combined additional collections from water and property taxes would be up to Rs500m per annum,” said a senior official of the finance department.
INTERNEWS
