The Punjab government has imposed 16% sales tax on commercial property rent from July 1, 2025 under the Punjab Finance Act 2025. This tax will be applicable on all “fixed fee invoices” relating to the rent of immovable commercial property. Only residential houses rented out for personal residence are exempted from this tax. M. Tanveer, patron-in-chief of the United Business Group (UBG), has...
Pakistan Telecommunication Company Limited (PTCL) has declared the sale of its prime property located on I.I. Chundrigarh Road in Karachi, adjacent to Jang Press, through a transparent and competitive bidding process. The 13,583-square-yard (approximately 27 kanal) plot, situated adjacent to Jang Press, boasts a corner location with a 500-foot frontage on I.I. Chundrigar Road. Given its prominent...
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