Property owners in Lahore and across Punjab who opt for self-assessment will receive significant concessions on property tax payments under a new incentive programme, it was reported on Monday.
According to the report, under the scheme, taxpayers who complete self-assessment and pay their property tax by 30 September will receive a 10 percent discount.
Those who make payments after that date but within the same financial year will remain eligible for a five percent concession.
Additional Director General Ahmad Saeed said existing property taxpayers would also be able to correct or update their property records through the new system.
He explained that owners wishing to register a new property unit could upload a self-assessment through the Excise Department’s website.
For existing properties, taxpayers can enter the 28-digit code printed on their property tax bill to access and update their property details.
Ahmad Saeed said the self-assessment system had been introduced to improve transparency, eliminate opportunities for corruption and reduce the risk of blackmail by limiting unnecessary direct interaction during the assessment process.
