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Nasir Butt Friday, 24 Jun 2011 2:26 am | Comments (0) LAHORE - After a formal approval by the Punjab Assembly,

the provincial government on Thursday formally levied tax on farmhouses, elite clubs, swimming pools, duty on special classes of entertainments and increased the rate of token tax on vehicles of and over 1,000cc engine capacity. The Punjab government successfully managed the approval of the Finance Bill 2011-12 with a majority vote amid a charged atmosphere. The PPP backed the demands for grants while the PML-Q voted against them. The Punjab Assembly also passed the Lahore Ring Road Authority Bill 2011-12 and Food Authority Punjab Bill 2011-12. With the approval of the finance bill, the Punjab government has decreased the rate of general sales tax (GST) from 17 percent to 16 percent and slashed entertainment duty from 65 percent to 20 percent. Token tax on 1,000cc-1,299cc vehicles will be enhanced from Rs 1,200 to Rs 1,800 per annum; 1,300cc-1,499cc cars would be charged Rs 3,000, up from Rs 1,800; 1,500cc1,999cc cars Rs 4,500 instead of Rs 3,000; 2,000cc-2,499cc cars Rs 6,000, up from Rs 4,500 and 2,500cc and above cars would be charged Rs 10,000. Moreover, a three-door 4x4 vehicle with engine power exceeding 2500cc will be charged Rs 4,500 per annum. Token tax on a vehicle with engine capacity not exceeding 1,000cc and a vehicle with a maximum seating capacity of three will remain at Rs 600 and Rs 500, respectively. The rate of token tax was last revised in 2004. According to the bill, the owner of a farmhouse with 5,000 to 7,000 square feet covered area shall have to pay tax at rate of Rs 10 per square foot, a farmhouse with 10,000 square feet covered area Rs 15 per square foot, and above that Rs 20 per square foot. No property tax is collected from owners of farmhouses presently. The elite class club tax has initially been fixed at 10 percent of the membership fee, while another 10 percent tax shall be collected on services of these clubs. The bill also recommends imposition of water conservatory tax on swimming pools except those in educational institutions. The government also proposes to levy duty on special classes of entertainments, such as horse racing, circus, fashion shows and musical shows. The rate of duty for admission to horse racing will be 200 percent of the payment for admission or Rs 200 per admission ticket, whichever is higher. On circus, the rate of duty will be 20 percent of the payment for admission, provided the government may, by notification, require the proprietor of the circus to pay the duty on annual fixation basis, on such terms and conditions as the government may determine. On fashion or musical shows, the rate of duty will be 65 percent of the payment for admission or 65 percent of the total amount paid to the owner or management of the premises or total expenditure made by the organiser or sponsor, whichever is higher. The bill also proposes water conservancy charge on swimming pools at the rate of Rs 60,000 per annum from the owner or occupant of a house or any other building, except an educational institution, having a swimming pool with a minimum surface area of 250 square feet. At the onset of proceedings, Law Minister Rana Sanaullah informed the House and the press gallery about the details of an inquiry committees report on the Journalist Housing Colony conflict. He said the Harbanspura SHO had been suspended, while the DSP had been served show-cause notice. Sanaullah said two separate criminal cases had been registered on an application by Journalist Housing Colony manager.

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