FBR Chairman Assures to Solve Tax Issues of Real Estate Sector
Malik Amjad Zubair Tiwana, the chairman of the Federal Board of Revenue (FBR), has reassured realtors that their tax-related issues will be taken care of.
The change occurred during a meeting between the chairman and a realtor delegation. The conference was called after FBR received a directive from Finance Minister Ishaq Dar to address tax problems relating to real estate transactions.
Given the weak state of the economy, the delegation urged for rationalising the taxes of immovable property. They claimed that tax policies put in place by the Finance Acts of 2022 and 2023 had discouraged investment in the real estate sector.
Read More: FBR Start Online Fee and Exemption Service for Tax on Property
The delegation suggested eliminating the tax on presumed income from immovable property and asked that either no change be made to the valuation table of the properties for the time being or a reasonable increase might be made after consulting with the stakeholders.
The chairman gave the attendees the reassurance that their concerns would be taken seriously and that every effort would be made to eliminate any obstacles that might arise from the application of tax rules. In this sense, he instructed his team to make sure that realtors were properly consulted.
The chairman further noted that any new tax exemptions, concessions, or preferential tax treatment may not currently be feasible due to the stand-by agreement with the International Monetary Fund (IMF).
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
