Acting swiftly on the post-poll feedback received from various quarters, Punjab Government on Wednesday decided to review collector rates of land in the State to give major boost to investment in new development projects in the State. Besides, the Government has also decided to review the details of property tax structure in the State. The Government is of the view that property tax needs to be both “simplified and rationalized” to make it realistic and easy on the tax paying public.
The decision came after the Deputy Chief Minister Sukhbir Badal gather feedback from various mediums including political, official, trade and farming, followed by the directions to the concerned departments that both Collector Rates and property tax be rationalized through “a people-friendly and investment driven’ policy. “The taxation structure must be brought in tune with ground realities, with an eye on promoting Government’s objective of making the state the most attractive investment destination in the country,” said Sukhbir.