{"id":63497,"date":"2020-04-01T12:53:46","date_gmt":"2020-04-01T07:53:46","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=63497"},"modified":"2020-04-01T12:53:48","modified_gmt":"2020-04-01T07:53:48","slug":"punjab-defers-property-tax-reduces-cvt-stamp-duty","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-defers-property-tax-reduces-cvt-stamp-duty.html","title":{"rendered":"Punjab defers Property Tax, reduces CVT &amp; Stamp Duty"},"content":{"rendered":"\n<p>Lahore: The Government of Punjab has announced a \u2018Tax Relief Package\u2019 worth PKR 18 billion that defers the Property Tax on urban immovable property, suspends the taxes on construction services \u00a0and reduces the Capital Value Tax &amp; Stamp Duty from 6% to 2% in order to boost the construction and real estate sector \u2013 a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-asked-retract-taxes-real-estate-transactions.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Govt asked to retract taxes on real estate transactions (opens in a new tab)\">Govt asked to retract taxes on real estate transactions<\/a><\/p>\n\n\n\n<p>According to details, in order to stimulate the national\neconomy and construction sector and to boost the employment generation, the\ngovernment has also deferred the Property Tax and Development Cess on urban\nimmovable property. The property tax and professional tax have been suspended\nfor a period of 3 months. <\/p>\n\n\n\n<p>While speaking during a briefing session on Punjab Tax Relief Package, Punjab Finance Minister Hashim Jawan Bakht revealed that the General Sales Tax (GST) has been reduced from 16% down to zero on all online platforms and on the services provided by the medical consultants and hospitals. Moreover, the GST on construction services has also been suspended. <\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/cell-formed-at-pm-office-to-ascertain-corona-trends.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Cell formed at PM office to ascertain corona trends (opens in a new tab)\">Cell formed at PM office to ascertain corona trends<\/a><\/p>\n\n\n\n<p>Finally, the GST for businesses and services related to\nHuman Resource (HR) development have also been brought down to zero \u2013 including\nthe businesses that closed down. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Government of Punjab has announced a \u2018Tax Relief Package\u2019 worth PKR 18 billion that defers the Property Tax on urban immovable property, suspends the taxes on construction services \u00a0and reduces the Capital Value Tax &amp; Stamp Duty from 6% to 2% in order to boost the construction and real estate sector \u2013 a news source reported. Read: Govt asked to retract taxes on real estate transactions According to details, in order to stimulate the national economy and construction sector and to boost the employment generation, the government has also deferred the Property Tax and Development Cess on urban immovable property. The property tax and professional tax have been suspended for a period of 3 months. While speaking during a briefing session on Punjab Tax Relief Package, Punjab Finance Minister Hashim Jawan Bakht revealed that the General Sales Tax (GST) has been reduced from 16% down to zero on all online platforms and on the services provided by the medical consultants and hospitals. Moreover, the GST on construction services has also been suspended. Read: Cell formed at PM office to ascertain corona trends Finally, the GST for businesses and services related to Human Resource (HR) development have also been&hellip;<\/p>\n","protected":false},"author":57,"featured_media":61600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[24816,24817],"persona":[],"class_list":{"0":"post-63497","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-punjab-defers-property-tax","9":"tag-reduces-cvt-stamp-duty","10":"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>Punjab defers Property Tax, reduces CVT &amp; Stamp Duty - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Government of Punjab has announced a \u2018Tax Relief Package\u2019 worth PKR 18 billion that defers the Property Tax on urban immovable property,\" \/>\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\/punjab-defers-property-tax-reduces-cvt-stamp-duty.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab defers Property Tax, reduces CVT &amp; Stamp Duty - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Government of Punjab has announced a \u2018Tax Relief Package\u2019 worth PKR 18 billion that defers the Property Tax on urban immovable property,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-defers-property-tax-reduces-cvt-stamp-duty.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-01T07:53:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-01T07:53:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/02\/Gop.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Muhammad Farhad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Farhad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Punjab defers Property Tax, reduces CVT &amp; 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