Read about the political drama and furore at the Mangaluru City Corporation (MCC) council meeting over the new property tax regime. Find out how the revised guidance value of properties has caused a potential 200% increase in property tax for owners.
Property tax hike raises more questions
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The escalation of property tax in Mysuru is under flak for lack of clarity.
The controversy over the escalation in property tax which came into vogue under Mysuru City Corporation (MCC) limits with effect from April 1, refuses to die as citizens and activists continue to question the methodology for effecting the hike.
Recently, a large group of citizens including the KPCC spokesperson M. Lakshman flayed the authorities for the manner in which the hike has been effected and threatened to file a PIL in the High Court questioning the escalation. On Sunday, activist Bhamy V. Shenoy, founding working president of Mysore Grahakara Parishat (MGP), questioned the rationale of the hike and described it as flawed at various levels. He computed the hike for different properties to find out that the increase is not 15% as claimed by MCC and mandated by the law. “In reality it is as much as 170% depending upon
Failure to comply with tax audit to result in hefty fines, tax experts warn rohma@khaleejtimes.com Filed on April 7, 2021
Under the Self-Assessment System of VAT returns filing, the onus is clearly placed on taxpayers and businesses have to interpret and apply the tax legislation correctly
Organisations across the UAE which fail to comply with the rules in place regarding the tax audits conducted by the Federal Tax Authority (FTA) will be liable to pay hefty fines, experts warned at a webinar on Wednesday.
Presented by Khaleej Times & MBG Corporate Services, the event sought to bring clarity to some of the key issues regarding tax audits, and brought together key experts in the field to share their insights.