CDA urged to review IMC’s tax challans

ICCI chief says astronomical increase in property taxes unjustified

ISLAMABAD:

While the elected local has been all but dissolved, traders in the federal capital have demanded that the hike in property tax it had approved should be reversed.

This was stated by the Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Khan in a statement on Tuesday.

Yasir said that the Islamabad Metropolitan Corporation (IMC) had in July approved a 300 per cent hike in property taxes in the federal capital in one fell swoop.

Instead of putting an enormous burden on the strained business community by raising property taxes suddenly, the ICCI president said that the IMC should have gradually increased this tax, which would have saved the business community from unnecessary problems.

Terming the increase as unjustified he demanded its urgent withdrawal to save the local business community from suffering its huge financial impacts.

He added that the ICCI had obtained a stay order from the Islamabad High Court (IHC) while the court had directed the corporation to charge the tax per the provisions of assessment by issuing amended bills based on past rates.

Despite that, Yasir claimed that the IMC issued the new bills on enhanced rates with interest.

He added that the IMC has not fulfilled the legal requirements in making unilateral increases to property tax.

Published in The Express Tribune, October 27^th, 2020.