Lahore Residence Zaman Park
Imran Khan Receives Luxury Tax Notice for Zaman park:
Pakistan's former prime minister Imran Khan has been issued a luxury tax notice for his Lahore residence. The notice was issued by the Punjab Excise and Taxation Department on Monday, May 22, 2023.
The notice demands that Khan pay a luxury tax of PKR 14 lakh (approximately USD 8,000) for his house in Zaman Park, Lahore. The notice was issued after the department assessed the value of Khan's house and found that it exceeds the threshold for luxury tax liability. The department has given Khan 15 days to pay the tax, after which he will be subject to further penalties.
Khan has denied any wrongdoing and has said that he will challenge the notice in court. He has also accused the government of targeting him for political reasons.
The luxury tax is a controversial policy in Pakistan. Critics argue that it is unfair and that it disproportionately affects the wealthy. Supporters of the tax argue that it is necessary to raise revenue and to discourage conspicuous consumption.
The issue of luxury tax is likely to be a major issue in the upcoming general election in Pakistan.
Background: The luxury tax was first introduced in Pakistan in 2013. The tax is levied on properties that exceed a certain value. The threshold for luxury tax liability varies depending on the province. In Punjab, the threshold is PKR 20 crore (approximately USD 1.1 million).
The luxury tax is a controversial policy. Critics argue that it is unfair and that it disproportionately affects the wealthy. They also argue that the tax is difficult to administer and that it is not effective in raising revenue.
Supporters of the luxury tax argue that it is necessary to raise revenue and to discourage conspicuous consumption. They also argue that the tax is progressive, as it taxes the wealthy at a higher rate than the poor.
Imran Khan's Response: Imran Khan has denied any wrongdoing and has said that he will challenge the luxury tax notice in court. He has also accused the government of targeting him for political reasons.
Khan has said that the luxury tax is "a political witch hunt" and that it is "an attempt to silence me and my supporters." He has also said that the tax is "unfair" and that it "will only hurt the poor."
