{"id":101048,"date":"2025-01-13T11:45:34","date_gmt":"2025-01-13T06:45:34","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101048"},"modified":"2025-01-13T12:41:38","modified_gmt":"2025-01-13T07:41:38","slug":"fbr-to-reevaluate-high-taxes-on-real-estate-deals","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-to-reevaluate-high-taxes-on-real-estate-deals.html","title":{"rendered":"FBR to reevaluate high taxes on real estate transactions"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) Chairman Rashid Mahmood has agreed, in principle, to revisit high property transaction taxes, aiming to support the construction sector and affordable housing initiatives. During a Taxation-Task Force meeting, stakeholders highlighted the 13% tax burden from sections 236C and 236K of the Income Tax Ordinance, 5% FED, and 4% provincial stamp duty, which have reduced transaction volumes.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-invites-stakeholder-input-for-budget-2025-26.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR invites stakeholder input for Budget 2025-26<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The Chairman proposed reducing these taxes, subject to provincial agreement on not raising their rates. A committee, led by the Member Policy FBR and including key industry figures, was formed to draft tax rationalization proposals and fiscal measures for affordable housing.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The meeting also discussed aligning property valuation rates with market values through annual reviews to enhance transparency. To streamline processes for overseas Pakistanis, an online verification system will replace field office dependency.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/overseas-pakistanis-get-real-estate-tax-relief.html\" target=\"_blank\" rel=\"noreferrer noopener\">Overseas Pakistanis get real estate tax relief under new FBR initiative<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Concerns over the income tax on deemed income under Section 7E, especially its impact on idle plots, were raised. The Chairman agreed to review its definitions and potential double taxation issues.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The finalized relief package, expected by February 2025, is likely to include tax reductions, incentives for first-time homebuyers, and measures to boost real estate activity. Experts are optimistic about the reforms\u2019 impact on the sector\u2019s growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) Chairman Rashid Mahmood has agreed, in principle, to revisit high property transaction taxes, aiming to support the construction sector and affordable housing initiatives. During a Taxation-Task Force meeting, stakeholders highlighted the 13% tax burden from sections 236C and 236K of the Income Tax Ordinance, 5% FED, and 4% provincial stamp duty, which have reduced transaction volumes. Read: FBR invites stakeholder input for Budget 2025-26 The Chairman proposed reducing these taxes, subject to provincial agreement on not raising their rates. A committee, led by the Member Policy FBR and including key industry figures, was formed to draft tax rationalization proposals and fiscal measures for affordable housing. The meeting also discussed aligning property valuation rates with market values through annual reviews to enhance transparency. To streamline processes for overseas Pakistanis, an online verification system will replace field office dependency. Read: Overseas Pakistanis get real estate tax relief under new FBR initiative Concerns over the income tax on deemed income under Section 7E, especially its impact on idle plots, were raised. The Chairman agreed to review its definitions and potential double taxation issues. The finalized relief package, expected by February 2025, is likely to include tax&hellip;<\/p>\n","protected":false},"author":18,"featured_media":99068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[2169,61706,61714,37710,52814,61707,61718,61715,61713,1685,61717,61712,59314,61716,61710,3339,61709,61708,61711,24801],"persona":[],"class_list":{"0":"post-101048","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-affordable-housing","9":"tag-construction-sector-relief","10":"tag-dnfbps-oversight","11":"tag-fbr-reforms","12":"tag-federal-excise-duty","13":"tag-first-time-homebuyers","14":"tag-housing-sector-development","15":"tag-idle-plots-taxation","16":"tag-market-alignment","17":"tag-overseas-pakistanis","18":"tag-property-market-activity","19":"tag-property-transaction-taxes","20":"tag-property-valuation-rates","21":"tag-real-estate-digitalization","22":"tag-real-estate-incentives","23":"tag-real-estate-taxes","24":"tag-section-236c","25":"tag-section-236k","26":"tag-section-7e-tax","27":"tag-tax-relief-measures","28":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR to reevaluate high taxes on real estate deals - Zameen News<\/title>\n<meta name=\"description\" content=\"The meeting also discussed aligning property valuation rates with market values through annual reviews to enhance transparency....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-to-reevaluate-high-taxes-on-real-estate-deals.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR to reevaluate high taxes on real estate deals - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The meeting also discussed aligning property valuation rates with market values through annual reviews to enhance transparency....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-to-reevaluate-high-taxes-on-real-estate-deals.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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