Punjab Assembly panel approves bill to reward reporting of property tax evasion

The Punjab Assembly’s Standing Committee on Excise has approved a bill amending the Punjab Urban Immovable Property Tax Act, 1958 (V of 1958) for introducing a reward mechanism for individuals, both citizens and excise officials, who report cases of tax evasion. The proposed legislation likely to sail through the House says that any person who provides credible information leading to the detection of property tax evasion will be recognised as a “whistle-blower” and entitled to a monetary reward. The bill seeks to encourage public participation in strengthening the province’s tax regime, which has long suffered from loopholes and under-reporting. Officials of the Excise and Taxation Department identifying and taking action against the tax evasion will also be eligible for incentives under the amended law.