As per Lawkidunya, In Karachi, Pakistan, industrial property tax rates are determined by the Karachi Metropolitan Corporation (KMC) and the Sindh government. Here are the tax rates:
Tax Rates on Industrial Properties
– Industrial Properties: 25% of the annual rental value (ARV)
– Commercial Properties: 25% of the ARV
– Residential Properties: 10% to 20% of the ARV
Zone-Based Tax Rates on Industrial Properties
Karachi is divided into different zones, each with its own tax rate:
– Zone A: Rs. 0.60 per square foot (industrial), Rs. 1.20 per square foot (commercial)
– Zone B: Rs. 0.40 per square foot (industrial), Rs. 0.80 per square foot (commercial)
– Zone C: Rs. 0.25 per square foot (industrial), Rs. 0.50 per square foot (commercial)
Additional Taxes on Industrial Properties
– Water and Sewerage Tax: 10% to 20% of the property tax
– Fire Tax: 5% to 10% of the property tax
Please note that these tax rates are subject to change, and you should consult the official website of the Karachi Metropolitan Corporation (KMC) or contact a tax professional for the most up-to-date information.