{"id":61616,"date":"2020-02-18T18:10:35","date_gmt":"2020-02-18T13:10:35","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=61616"},"modified":"2020-02-18T18:10:36","modified_gmt":"2020-02-18T13:10:36","slug":"govt-lower-cgt-public-servants-50","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-lower-cgt-public-servants-50.html","title":{"rendered":"Federal govt to lower CGT for public servants by 50%"},"content":{"rendered":"\n<p>Islamabad: The federal government recently announced its decision to reduce the rate of Capital Gains Tax (CGT) on the transfer of property owned by public servants, including officers and staff \u2014 a news source reported. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/amendments-introduced-in-finance-bill-2019-to-enforce-new-cgt-regime.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Amendments introduced in Finance bill 2019 to enforce new CGT regime (opens in a new tab)\">Amendments introduced in Finance bill 2019 to enforce new CGT regime<\/a><\/p>\n\n\n\n<p>Additionally, in case of transfer of property after three\nyears the CGT payable by the public servants will have a rebate of 75%. So, in\ncase of sale of property after 3 years, the public servants will have to pay\nonly 5% CGT, instead of the usual 20% of total gains. <\/p>\n\n\n\n<p>Federal Board of Revenue (FBR) will introduce an amendment bill for the purpose. The bill will amend Section 9A of the Income Tax Ordinance 2001. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/rental-income-new-brackets-introduced-taxes-raised-to-35.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Rental Income: New brackets introduced, taxes raised to 35% (opens in a new tab)\">Rental Income: New brackets introduced, taxes raised to 35%<\/a><\/p>\n\n\n\n<p>The draft of the proposed amendment will be presented before\na parliamentary committee. The amendment will only apply to the retired and\nserving officers and employees of the federal and provincial governments \u2014 while\na 20% CGT will remain applicable for the general public. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government recently announced its decision to reduce the rate of Capital Gains Tax (CGT) on the transfer of property owned by public servants, including officers and staff \u2014 a news source reported. Read: Amendments introduced in Finance bill 2019 to enforce new CGT regime Additionally, in case of transfer of property after three years the CGT payable by the public servants will have a rebate of 75%. So, in case of sale of property after 3 years, the public servants will have to pay only 5% CGT, instead of the usual 20% of total gains. Federal Board of Revenue (FBR) will introduce an amendment bill for the purpose. The bill will amend Section 9A of the Income Tax Ordinance 2001. Read: Rental Income: New brackets introduced, taxes raised to 35% The draft of the proposed amendment will be presented before a parliamentary committee. The amendment will only apply to the retired and serving officers and employees of the federal and provincial governments \u2014 while a 20% CGT will remain applicable for the general public.<\/p>\n","protected":false},"author":57,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[19997],"persona":[],"class_list":{"0":"post-61616","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-federal-govt-to-lower-cgt-for-public-servants-by-50","9":"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>Federal govt to lower CGT for public servants by 50% - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government recently announced its decision to reduce the rate of Capital Gains Tax (CGT) on the transfer of property owned by\" \/>\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\/govt-lower-cgt-public-servants-50.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Federal govt to lower CGT for public servants by 50% - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government recently announced its decision to reduce the rate of Capital Gains Tax (CGT) on the transfer of property owned by\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-lower-cgt-public-servants-50.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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