Islamabad, September 28, 2023 – The Islamabad Chamber of Commerce and Industry (ICCI) has issued a call to authorities for the withdrawal of Section 7E from the Income Tax Ordinance, 2001, with the aim of revitalizing investment in the real estate and construction sector.
The implementation of the mandatory requirement to comply with section 7E payment has brought property documentations across Pakistan to a near halt.
KARACHI: State Bank of Pakistan (SBP) has allowed general permission for foreign investment in real estate fund listed on country’s stock exchange.
ISLAMABAD: With so many real estate projects in Pakistan on the rise, it’s close to impossible to find the most futuristic & tech-enabled, sustainable, and state-of-the-art project that’s worth investing without breaking the bank while also being trust-worthy. Having said that, we’ve recently spotted a project that’s taking Islamabad by storm. Their streamers and outdoor […]
KARACHI: The federal government has made amnesty granted to real estate sector to the part of Finance Bill, 2020 in order to get approval from the Parliament. Deloitte Yousuf Adil Chartered Accountants in their budget explanations said that to stimulate investment in real estate and construction sector, a no-questions-asked amnesty has been introduced. Under this […]
KARACHI: Federal Board of Revenue (FBR) has launched monitoring of sale and purchase in real estate sector by establishing dedicated zone for assessing developers and builders. Sources in the FBR said that cases of builders and developers had been transferred to special circular established at Large Taxpayers Unit (LTU)-II, Karachi. According to an official order […]
KARACHI: Pakistan has assured International Monetary Fund (IMF) of removing distortion in taxation system and strengthening taxation on real estate and agriculture income. The IMF on Monday issued country report on Pakistan after successful $6 billion loan program. The report said that a large deficit would require aggressive revenue collection. A multi-year effort will aim […]
ISLAMABAD: The government has tightened rules for transactions of immovable properties and through Finance Bill 2019 it is proposed that non-banking real estate transactions would liable for penalty. The Federal Board of Revenue (FBR) said that in order to ensure documentation of real estate transactions and also to ascertain the actual value of a transaction […]
ISLAMABAD: The government has withdrawn a permanent amnesty for not explaining the source of investment in purchasing immovable properties. The government has proposed to withdraw this provision through Finance Bill, 2019 as part of budget 2019/2020, presented on Tuesday. The Federal Board of Revenue (FBR) in its income tax salient features said that 3 percent […]