14/03/2022
๐ก๐ฒ๐๐ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ !!
๐๐ฎ๐ง๐ฃ๐๐โ๐ฌ ๐๐๐๐ฅ ๐๐ฌ๐ญ๐๐ญ๐ ๐ก๐๐ฌ ๐๐จ๐ญ๐๐ง๐ญ๐ข๐๐ฅ ๐ญ๐จ ๐๐๐ง๐๐ซ๐๐ญ๐ ๐๐ฌ. ๐๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐ฑ ๐๐๐ฏ๐๐ง๐ฎ๐: ๐๐จ๐ซ๐ฅ๐ ๐๐๐ง๐ค
The World Bank has estimated that the tax potential of the real estate sector in Punjab province is Rs. 400 billion which can be materialized through digital land records.
According to a World Bank report, a transparent system of centralized cadaster-based land records has strong potential to support the ecosystem for revenue enhancement in Punjab.
The World Bank estimates Punjabโs tax potential at Rs. 400 billion, with the largest revenue potential in Services Sales Tax, Urban Immovable Property Tax (UIPT), and stamp duty. Of the three largest sources, two are related to real estate, according to the report.
According to the news sources, The UIPT is collected by the Excise and Taxation Department (E&TD) and the stamp duty by the Board of Revenue (BoR). Improved land record system will provide the underlying data to conduct systematic analysis informing policy measures, enhance coordination between the two land-related tax authorities (E&TD and BoR), and improve implementation of UIPT and stamp duty.
According to the details, Of the report says that the urban housing gap in Punjab is expected to reach 11.3 million units by 2047, driven by population growth, migration from rural areas, and deterioration of the existing housing stock. Between 2 and 2.5 million units are expected to be constructed in Punjab under the purview of the Punjab Housing and Town Planning Agency.
