That's according to Cook County Treasurer Maria Pappas, who said an estimated 26,500 homeowners who received a senior exemption
last year did not have it applied to their bills this year.
As part of the last International Monetary Fund bailout, the overall tax exemptions
were reduced substantially but the trend was reversed after the completion of the programme and the government offered several concessions to certain industries and individuals.
According to the Survey, the breakup of tax exemptions
showed that Rs141.6 billion exemptions
are given in income tax during ongoing fiscal year.
The disclosure is primarily aimed at withdrawing these exemptions
in the new budget which Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh will unveil on Tuesday.
The major consequence to receiving two residency-based property tax exemptions
is that the Florida homestead exemption
for one spouse could be subject to challenge by the county property appraiser or a creditor.
of an economic nature--achieve a specific condition in the economy,
Additionally, another Rs19.3 billion was lost due to exemptions
under the eight schedule of the Sales Tax Act that allows charging goods lower than the standard 17 per cent sales tax.
(Wait, let us reduce the 143 exemptions
. That's why we cannot take off, just like a balloon, there are lots of holes.
can be extremely beneficial, substantially decreasing a property holder's liability.
Experts say the exemptions
to Chinese companies would inflict a loss of Rs.150 billion in revenue.
Of course, for exemption-based franchise programs to be viable, the franchisor's business model must be structured to accommodate applicable laws relating to such exemptions
. For example, Starbuck's franchise sales program is designed to take advantage of fractional franchise exemptions
available under federal and most (but not all) state franchise laws.