PANAJI: The Corporation of the City of Panaji (CCP) has revised its tax structure for commercial establishments and residential starting April 1, 2023.
CCP sharply reduced municipal tax on commercial establishments, bringing in a uniform rate for all commercial establishments.
All such commercial establishments will now pay a uniform rate of Rs 237.6 per sqm, a reduction of as much as 200% for some establishments.
As per the new structure, the commercial C1 central special zone and C1 zone tax have been reduced to Rs 237.6 per sqm, while the commercial C2 zone tax would now be Rs 237.6 per sqm.
CCP Mayor Rohit Monserrate said that upon his taking charge as the Mayor of Panaji, one of his top priorities was to bring uniformity to the tax structure.
He further said that he would not burden the citizens of the city as well as the Corporation to carry out development works and provide efficient services.
Upon consideration, the Corporation of the City of Panaji (CCP) has sharply reduced municipal taxes on commercial establishments so that the citizens can operate their businesses smoothly.
“It is seen as one of the first instances wherein a Corporation or an Urban local body has reduced taxes, which has benefited the citizens,” said Monserrate.
He further said that this tax reduction would bring about a uniform rate of municipal taxes for all commercial establishments.
“A reduction of as much as 200% for some establishments,” he added