Pakistani government plans to raise advance tax on property purchases by non-filers to boost revenue. Aim is to discourage non-compliance and increase tax revenues from the real estate sector. IMF recommends structural reforms, including blocking SIM cards of non-filers, to broaden the In a move aimed at bolstering revenue and curbing non-compliance, the Pakistani government … Read more
CDA introduces a new property tax system for Islamabad to increase revenue. Property tax now covers the entire Islamabad Capital Territory with a uniform flat rate. Government hospitals and educational institutions are exempt from property tax. The Capital Development Authority (CDA) has recently implemented a revamped property tax structure across the entire Islamabad Capital Territory … Read more
Section 7E taxes individuals on the assumed rental income of their immovable property, regardless of its rental status. The slowdown in property transfers has negatively affected both the real estate sector and the overall economy. The government has not yet responded to the calls to repeal or amend Section 7E. Since the enforcement of Section … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has welcomed the Punjab government’s decision to withdraw an increase in the property tax, a statement said. The Excise, Taxation and Narcotics Control Department has issued a notification, in this regard. LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president … Read more
Islamabad district administration breaks tax collection record of all time. According to the details, the district administration in July 2019 collected Rs1.8 billion in tax collection to set a new record. Previously, in 2017 the total tax collection was Rs550,000 million. In year 2018 the tax collection stood at Rs660,900 million. The district administration tax … Read more
