The Azad Kashmir government has proposed imposition of taxes on commercial property. AJK government has levied property tax only on commercial buildings who collects more than 1,20,000/- Rs per year rent from their property. The property tax base is the Annual Rental Value of commercial buildings which are in boundary of Municipal Corporation or Town Committee.
The Excise and Taxation Department is given instruction to conduct a survey and collect property Tax. On other side citizens and traders got angry on new property tax. They said Government of Pakistan is already collecting property Tax. We cannot afford double property tax. Government of Azad Kashmir is imposing this tax to live a lavish life style.
Trader unions are preparing for a Shutter Down Strike in All over Azad Kashmir to protest against extra property tax.
You can calculate the Annual Rental Value of a property using its monthly rent. e.g if a property has monthly rent of Rs 10,000 per month, its Gross Annual Rental Value is Rs 1,20,000, that is, Rs 10,000 x 12.
So if you own a commercial property lies in boundary of Municipal Corporation or in a Town Committee and you earn a rent of 10,000 per month then you are bound to pay property tax as per new law.