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Fed Govt Plans proposed Property tax cuts

The government plans to cut taxes on the property sector and lure Middle East conflict-affected overseas Pakistanis to bring back their money without fear of harassment, aiming to encash the opportunity to boost the struggling sector, reported Shahbaz Rana of Express Tribune. Government and market sources told The Express Tribune that Prime Minister Shehbaz Sharif this week gave the go-ahead to finalise...

FBR imposes 15% charges in Islamabad Real Estate Sector

The Federal Board of Revenue (FBR) has placed hundreds of services into General Sales Tax (GST) in the Islamabad Capital Territory at the rate of 5 and 15 percent, reported in daily The News. For construction services 15pc tax will be charged, excluding: (i) construction projects (industrial and commercial) of the value (excluding actual and documented cost of land) not exceeding Rs50 million per...