Pakistan Revenue
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 […]
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KARACHI: Pakistan has assured International Monetary Fund (IMF) of removing distortion in taxation system and strengthening taxation on real estate and agriculture income.
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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 […]
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ISLAMABAD: The government has withdrawn a permanent amnesty for not explaining the source of investment in purchasing immovable properties.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 […]
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