Notices issued for assessment of Luxury House Tax
According to news reported on April 14, the Excise and Taxation (E&T) Officer in Lahore’s Model Town Extension has sent notices to property owners regarding the assessment of the Luxury House Tax. According to the Punjab Finance Act, this specific tax has been in effect since July 2014 and is levied on owners of homes that are 2 kanals or larger.
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Owners of homes larger than 2 kanals in Model Town Extension have been requested to send information on the enclosed form (LT-I See Rule 3(1)) within seven days of receiving the tax notice, according to the specifics. The necessary information must include information about the property and its ownership, which will be used to determine how much Luxury House Tax will be charged.