our correspondent
PESHAWAR
The Khyber Pakhtunkhwa government has decided to reduce the amount and number of taxes for the construction sector in a bid to promote this important section.
Senior Member Board of Revenue, Sayed Zafar Ali Shan Monday informed that a decision has been taken to lessen taxes on construction industries. He said on registration of land, it has been decided to collect 2 percent tax in spite of 6 percent.
He further informed that Capital Value Tax, registration fee, local government tax and stamp duty have been abolished and in spite of four types of taxes, only one tax of 2 percent will be collected for registration of land.
He said the earlier tax of Rs6000 on Rs100000 has been brought down to Rs2000 adding with this new development, now purchase of house would be easy and time-saving.
He further said that the initiative would help ease the procedure and work for businessmen and people associated with housing society sectors.
A tax relaxation will be provided to those purchasing land or building a house, he said and added that the job of government was not just to collect money but to provide relaxation and facilities to its people.
