MARGAO
In a bid to mop up additional revenue from the financial institutions, the Margao Municipal Council has decided not to accepted notarised lease agreements, but will insist on Leave and Licence agreements executed before the civil registrar in the future.
The MMC has also issued notices on nine banking institutions operating in the commercial capital, seeking details of the taxes they are paying to the civic body as per the rules.
Chief Officer Agnelo Fernandes informed that officials of the nine banks have agreed to furnish details to the civic body within seven days.
Briefing the media, the Chief Officer said that civic body has insisted on the nine banks to furnish information on details such as the Leave and Licence Agreements the institutions have entered into with the owners. “We have now decided not to accept notarised agreements but will insist on agreements executed before the Civil registrar," he added.
He said the ongoing exercise is being carried out to check whether the Lease agreements are executed before the appropriate authority, adding “sometimes agreements do not give the correct picture as there can be two lease agreements one with Civil Registration office and other with the notary," he added.
“This exercise is being carried out to ensure that the financial establishments running on rented basis pay the property tax, advertisement fees, signboard fees displayed on their premises as per the rules in force. As such this Council has decided to collect the latest Lease Agreement from the institutions and also survey the ATM counter, advertisement boards and number of signboards displayed," he added.
