{"id":102056,"date":"2025-04-28T16:26:57","date_gmt":"2025-04-28T11:26:57","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=102056"},"modified":"2025-04-28T16:35:08","modified_gmt":"2025-04-28T11:35:08","slug":"property-tax-collection-up-fed-abolition-pending","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/property-tax-collection-up-fed-abolition-pending.html","title":{"rendered":"Property tax collections climb, FED abolition under consideration"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has reported a 24.3% increase in withholding tax (WHT) collections from the property sector during the first nine months of the current fiscal year. The FBR collected PKR169 billion on account of WHT from the sale and purchase of immovable property, compared to PKR136 billion during the same period last year.<\/p>\n\n\n\n<p>Despite a 15% dip in property transactions, largely attributed to the surge in tax rates, the total WHT collection from property dealings exceeded expectations. The FBR had initially targeted a 50% increase in tax revenue, but the tax amount rose by 24% instead.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-proposes-tax-relief-for-low-middle-income-class.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR proposes tax relief for low, middle-income earners<\/a><\/p>\n\n\n\n<p>The government had significantly raised WHT rates in the last fiscal year, with the rate on property sales now at 3% for filers and 6% for non-filers, up from 2% and 4%, respectively. Similarly, the advance tax on property purchases was increased to 3% for filers and 10.5% for non-filers.<\/p>\n\n\n\n<p>Meanwhile, the government is considering abolishing the Federal Excise Duty (FED) on property transactions, as its contribution to national revenue has been less than PKR 2 billion in the first nine months of the fiscal year. Sources indicated that a summary to this effect has been presented to the federal cabinet, though it has not yet been approved. The proposed change will likely be discussed in parliament soon.<\/p>\n\n\n\n<p>In contrast, the salaried class has contributed approximately PKR 370 billion in taxes during the same period, surpassing the property sector and exporters in terms of tax contributions.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-seeks-tax-relief-for-real-estate-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR seeks IMF approval for tax relief on real estate &amp; other sectors<\/a><\/p>\n\n\n\n<p>Despite higher tax rates, the property sector remains a significant source of revenue for the government, though future reforms, including potential FED removal, will continue to shape its financial contributions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has reported a 24.3% increase in withholding tax (WHT) collections from the property sector during the first nine months of the current fiscal year. The FBR collected PKR169 billion on account of WHT from the sale and purchase of immovable property, compared to PKR136 billion during the same period last year. Despite a 15% dip in property transactions, largely attributed to the surge in tax rates, the total WHT collection from property dealings exceeded expectations. The FBR had initially targeted a 50% increase in tax revenue, but the tax amount rose by 24% instead. Read: FBR proposes tax relief for low, middle-income earners The government had significantly raised WHT rates in the last fiscal year, with the rate on property sales now at 3% for filers and 6% for non-filers, up from 2% and 4%, respectively. Similarly, the advance tax on property purchases was increased to 3% for filers and 10.5% for non-filers. Meanwhile, the government is considering abolishing the Federal Excise Duty (FED) on property transactions, as its contribution to national revenue has been less than PKR 2 billion in the first nine months of the fiscal year. Sources indicated that a&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":[3362,64208,52814,64207,62757,34475,64205,17738,7844,543,3057,3316,5907,64206,3822],"persona":[],"class_list":{"0":"post-102056","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr","9":"tag-fed-abolition","10":"tag-federal-excise-duty","11":"tag-fiscal-year-2024","12":"tag-government-reforms","13":"tag-pakistan-economy","14":"tag-pakistan-tax-revenue","15":"tag-property-market","16":"tag-property-sector","17":"tag-property-tax","18":"tag-property-transactions","19":"tag-real-estate-tax","20":"tag-tax-rates","21":"tag-wht-collections","22":"tag-withholding-tax","23":"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>Property tax collection up, FED abolition pending - Zameen News<\/title>\n<meta name=\"description\" content=\"The government is considering abolishing the Federal Excise Duty (FED) on property transactions, as its contribution to national revenue...\" \/>\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\/property-tax-collection-up-fed-abolition-pending.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property tax collection up, FED abolition pending - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The government is considering abolishing the Federal Excise Duty (FED) on property transactions, as its contribution to national revenue...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/property-tax-collection-up-fed-abolition-pending.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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