Pakistan Revenue
ISLAMABAD: The Federal Board of Revenue (FBR) has implemented capital gain tax on disposal of immovable properties as amended through Finance Act, 2022. The FBR issued Income Tax Circular No. 15 of 2022-2023 to explain the important amendments introduced through the Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: FBR explains tax […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has explained the new introduced tax on deemed income through Finance Act, 2022. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendment brought through Finance Act, 2022 to the Income Tax Ordinance, 2001. The FBR said that a new section 7E has been […]
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KARACHI: The Finance Act, 2022 has revamped the taxation of capital gains on disposal of immovable properties. Amendment has been incorporated in Section 37 of Income Tax Ordinance, 2001 through Finance Act, 2022. READ MORE: Tax on deemed income arising from capital assets in Pakistan Capital gains tax on disposal of immovable properties located in […]
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ISLAMABAD: Pakistan has announced a sharp increase in advance tax on purchase of immovable property to 250 per cent for persons not filing income tax returns. The country presented budget 2022/2023 on June 10, 2022 and announced various taxation measures to boost revenue collection. The Finance Bill, 2022 proposed the sharp increase in advance tax […]
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The federal government has implemented capital gains tax (CGT) ranging up to 15 percent on the disposal of immovable properties within one year of purchase.
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ISLAMABAD: A tax rate at 20 per cent has been imposed on deemed income from immovable properties through a new section introduced to Income Tax Ordinance, 2001. The government announced federal budget 2022/2023 on June 10, 2022 and introduced new tax on a person having more than one immovable property. A person having more than […]
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ISLAMABAD: The collection of advance tax from purchase of immovable properties climbed up by 24 per cent during first half of the current fiscal year. According to official data released by Federal Board of Revenue (FBR), the collection of advance tax on purchase / transfer of immovable property increased to Rs27.7 billion during first half […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has re-notified fresh and revised valuation of immovable properties. The FBR on March 02, 2022 issued re-notified the valuation tables of immovable properties for major cities of the country. The FBR on December 01, 2021 issued fresh and updated valuation tables for around 40 major cities of the […]
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ISLAMABAD: The Federal Board of Revenue (FBR) will apply the new valuation tables for immovable properties in major cities of the country from February 01, 2022. The FBR on December 01, 2021 issued fresh and updated valuation tables for around 40 major cities of the country. However, the FBR deferred the implementation of the new […]
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ISLAMABAD: The annual collection of withholding tax from transactions of immovable properties has surged by 98 per cent to Rs61.06 billion during fiscal year 2020/2021. According to official statistics made available to PkRevenue.com, the collection from sales and purchase of immovable properties was Rs30.77 billion during fiscal year 2019/2020. Sources in the Federal Board of […]
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