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In January 1908, the first local government body was established in Moratuwa. It was chaired by the Government Agent, and consisted of 6 representatives: 3 members of the public and 3 Government officials. [2] In 1930, the Moratuwa Urban Council was established.
The amount of property tax is equal to the tax base x the tax rate voted by the municipality. The tax base is equal to 50% of the cadastral rental value of the property (For non-built properties, this tax base is equal to 80%). To this base is then applied the revaluation coefficient. (It stood at 1.012 for 2020).
Money portal. v. t. e. A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it. [1] Some economists favor LVT, arguing it does not cause economic inefficiency, and helps reduce economic inequality. [2]
Moratuwa. Moratuwa (Sinhala: මොරටුව) is a large municipality in Sri Lanka, on the southwestern coast of Sri Lanka, near Dehiwala-Mount Lavinia. It is situated on the Galle – Colombo (Galle road) main highway, 18 km (11 mi) south of the centre of Colombo. Moratuwa is surrounded on three sides by water, except in the north of the ...
e. An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of a property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ad valorem tax may also be imposed annually, as in the case of a real or personal property tax, or ...
Tehsil Municipal Administration. A Tehsil Municipal Administration (TMA) is an organization associated with each Tehsil of Pakistan. TMAs are responsible for spatial planning and municipal services, and work closely with union councils. [1]
The period from July 1 to June 30 is considered as a normal tax year for Pakistan tax law purposes. Corporate Income tax rates Currently, the Corporate Income tax rate is 29% for tax year 2019 and onwards whereas the corporate tax rate is 35% for Banking Industry for TY 2019. Income Tax on Export of Services, in Pakistan is 1%.
The first plane to be converted was the US-built 1950s DC-6, which in a previous life flew freight and fuel to remote villages around Alaska. Now it’s a two-bed, one-bath stay, with a fire pit ...