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What you should know ?
● <B>What is the national residential property tax? </B>
The government introduced the NRPT in last year?s budget. At the time, the tax affected all people with annual revenue of Rs 215,000 (corresponding to a monthly salary of Rs 16,500). When it was first introduced, the tax was to be applied on bare as well as built lands.
● <B>What are the changes brought by the new budget this year? </B>
The minister of Finance, Rama Sithanen, announced a few changes in his budget speech as far as the NRPT is concerned. He reviewed the annual revenue of people to be affected by the tax upward ? reaching Rs 385,000 ? and made it clear that NRPT would ?not apply on unbuilt or bare lands?. Moreover, he insisted that the tax would be ?capped at 5 % of total income inclusive of exempt income?.
● <B>If the tax has been reviewed, why do people still protest? </B>
Opponents still disagree with this tax because they say they are fighting on a question of ?principle?. They have never protested against the amount of the tax but against its very existence. For Anil Gayan, ?the implementation of a Campement Site Tax can be understood because the State wants to make its lands profitable. But the NRPT affects directly the right to property?. He does not understand how the mere fact of being a property owner can make one taxable.
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