To observe with the conditions set by the International Monetary Fund (IMF) for a vital bailout package, the Pakistani government has enacted extensive changes to real estate taxation in the latest budget. These reforms include unprecedentedly high taxes on both plots and constructed properties, aimed at increasing revenue collection and creating a more equitable tax … Read more
Punjab Assembly has implemented new property tax rates to boost revenue. Residential properties valued up to Rs. 50 lakh are now tax-free. Commercial properties worth Rs 5 to 10 million face a tax rate of 0.07%. After approving the Finance Bill 2024–25, the Punjab Assembly has implemented new property tax rates as part of several … Read more
Punjab’s New Property Tax Rates Post Budget Approval – The Punjab Assembly has passed the Finance Bill 2024-25, introducing several measures aimed at generating revenue. The Rs5446 billion budget for the fiscal year 2024-25 was endorsed by a majority vote on Wednesday. Speaker of the Punjab Assembly, Malik Muhammad Ahmad Khan, signed the Finance Bill, … Read more
