*Minister says government to abolish luxury tax on houses
The government will abolish luxury tax on houses and a new legal regime will be promulgated after suitable modification to cover not only luxury houses but any other luxury item which may be within the preview of definition of luxury, said Punjab Excise and Taxation Minister Mujtaba Shujjaur Rehman while presiding over a meeting of the committee constituted by the Punjab chief minister regarding issues of luxury tax on houses.
He said the department will prepare a roadmap with definitive timeliness to ascertain the annual rental value through a comprehensive mechanism.
The meeting was attended by Law Minister Rana Sanaullah Khan, Law secretaries, Excise and Taxation departments besides high ranking officials.
Meanwhile, presiding over a meeting of Resource Mobilisation Committee, Mujtaba Shujjaur Rehman besides enhancing tax net, the government is also simplifying tax collection system.
He said that at the time of new taxation, difficulties of common man and low-income segments will also be kept in view and only taxable sectors will be brought under tax net.