{"id":60046,"date":"2020-01-19T10:00:00","date_gmt":"2020-01-19T10:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=60046"},"modified":"2020-01-20T04:15:21","modified_gmt":"2020-01-20T04:15:21","slug":"ict-reports-increase-tax-collection","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ict-reports-increase-tax-collection.html","title":{"rendered":"ICT reports increase in tax collection"},"content":{"rendered":"\n<p>Islamabad: The Islamabad Capital Territory (ICT) has made notification of a significant increase in taxes collected during Tax Year 2019; when contrasted with the annual tax sums generated during the previous five years, a news source reported. During the said year&#8217;s time frame, the ICT administration recorded the receipt of PKR 220 million in accrued taxation.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/cda-ict-to-have-dedicated-overseas-desks.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"CDA, ICT to have dedicated overseas desks (opens in a new tab)\">CDA, ICT to have dedicated overseas desks<\/a><\/p>\n\n\n\n<p>Islamabad Deputy Commissioner (DC) Muhammad Hamza Shafqat\nstated that ICT administration remained successful in the collection of Capital\nValue Tax (CVT). <\/p>\n\n\n\n<p>He revealed that during the five years before 2019, ICT\u2019s tax collection had remained below PKR 10 million. Meanwhile, the DC added that they have set the <a href=\"https:\/\/www.zameen.com\/news\/minister-orders-et-to-gear-up-to-meet-tax-collection-targets.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"tax collection target (opens in a new tab)\">tax collection target<\/a> for 2020 around PKR 1 billion, and ICT was hopeful of achieving this goal. <\/p>\n\n\n\n<p>ICT officials also stated that they were now making recoveries of the arrears after getting the cases filed against CVT cleared from the courts. They expressed the hope that they would reach their tax collection target for the ongoing year by December 31. <\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/ict-rda-directed-to-ensure-building-by-laws-implementation-around-iia.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"ICT, RDA directed to ensure building by-laws implementation around IIA (opens in a new tab)\">ICT, RDA directed to ensure building by-laws implementation around IIA<\/a><\/p>\n\n\n\n<p>Moreover, according to reports, the tehsil office collected\nPKR 17 million in advance tax and PKR 4 million in capital gains tax during the\nfirst six months of the previous year. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Islamabad Capital Territory (ICT) has made notification of a significant increase in taxes collected during Tax Year 2019; when contrasted with the annual tax sums generated during the previous five years, a news source reported. During the said year&#8217;s time frame, the ICT administration recorded the receipt of PKR 220 million in accrued taxation. Read: CDA, ICT to have dedicated overseas desks Islamabad Deputy Commissioner (DC) Muhammad Hamza Shafqat stated that ICT administration remained successful in the collection of Capital Value Tax (CVT). He revealed that during the five years before 2019, ICT\u2019s tax collection had remained below PKR 10 million. Meanwhile, the DC added that they have set the tax collection target for 2020 around PKR 1 billion, and ICT was hopeful of achieving this goal. ICT officials also stated that they were now making recoveries of the arrears after getting the cases filed against CVT cleared from the courts. They expressed the hope that they would reach their tax collection target for the ongoing year by December 31. Read: ICT, RDA directed to ensure building by-laws implementation around IIA Moreover, according to reports, the tehsil office collected PKR 17 million in advance tax and PKR 4&hellip;<\/p>\n","protected":false},"author":68,"featured_media":49732,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15015],"tags":[15082],"persona":[],"class_list":{"0":"post-60046","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-legal-taxation","9":"tag-details-on-ict-reports-increase-in-tax-collection","10":"cat-15012-id","11":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ICT reports increase in tax collection - Zameen News<\/title>\n<meta name=\"description\" content=\"The Islamabad Capital Territory (ICT) has made notification of a significant increase in taxes collected during Tax Year 2019.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/ict-reports-increase-tax-collection.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICT reports increase in tax collection - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Islamabad Capital Territory (ICT) has made notification of a significant increase in taxes collected during Tax Year 2019.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/ict-reports-increase-tax-collection.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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