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...
Yesterday, Lahore High Court abolished payment of 1% annual tax on real estate. The Federal Board of Revenue (FBR) has announced that non-resident individuals including non-resident Pakistanis are not required to pay tax on immovable properties under section 7E of the Income Tax Ordinance 2001. The Federal Board of Revenue (FBR) has implemented the judgment of the Lahore High Court (LHC) on Section 7E...
by Admin
The Federal Board of Revenue (FBR) has revised the fair market value of immovable properties on Wednesday in categories including residential, commercial, industrial and flats/apartments of the different areas of Karachi and many other parts of cities. New Rates of FBr are as under: FBR Valuation of Immovable properties of Karachi FBR Valuation of Immovable properties of Islamabad FBR Valuation of...
The Punjab government recently shared the deadline for availing reduced stamp duty on property transfers. As per the government’s notification, the deadline of discount on stamp duty has been set for June 30. Previously, the government had announced a reduction in stamp duty from 5% to 1% that could be availed until the end of this fiscal year. The deadline for that falls on the end of this month. In...
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