A new tax law has been sanctioned regarding the real estate sector in Pakistan – something that’s perhaps the best development of the talks held between the Finance Minister Ishaq Dar, real estate representatives, and Federal Board of Revenue’s senior officials – plots originally allotted to the families of martyred officers of armed forces will be exempted from Withholding and Capital Gain Tax (CGT) on first sale.
For every one of us who owns property in Pakistan, the time of the year when property taxes are due is always accompanied by some measure of apprehension. Taxes are often difficult to make head or tail of, and it is more than understandable if you are a little freaked out. But rest assured, www.parasestate.com is here to help!
Property taxes in Pakistan were amended in the annual budget 2016-17. These amendments and property taxes were then passed by the parliament. But real estate stakeholders rejected the new amendments.
State Bank names firms to determine market value of properties
KARACHI: The State Bank of Pakistan (SBP) on Monday notified a list of property valuers who will be authorised to determine the market values of immoveable properties.
The SBP list contained 59 valuers registered with the Securities and Exchange Commission of Pakistan (SECP). They are allowed to determine the value of up to Rs 1.5 billion.