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Senate Standing Committee rejected levy luxury tax on luxury residential houses and farmhouses

ISLAMABAD: The Senate Standing Committee on Finance and Revenue has unanimously rejected the proposal to levy luxury tax on luxury residential houses and farmhouses in Islamabad, the Ministry of Maritime Affairs said on Monday the committee directed to present the documents in the camera meeting on Tuesday and also seek details of the contractors and sub-contractors. The meeting of the standing committee was held on Thursday under the chairmanship of Senator Farooq H Naik. Introducing amendments to the Finance Act 2019, the Standing Committee directed the Ministry of Finance to clarify the definition of non-tax revenue.

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