{"id":69363,"date":"2020-08-18T16:51:02","date_gmt":"2020-08-18T11:51:02","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=69363"},"modified":"2020-08-18T16:51:04","modified_gmt":"2020-08-18T11:51:04","slug":"kp-govt-reduces-real-estate-taxes-80-percent","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/kp-govt-reduces-real-estate-taxes-80-percent.html","title":{"rendered":"KP govt reduces real estate taxes by 80%"},"content":{"rendered":"\n<p>Peshawar: The Khyber Pakhtunkhwa (KP) government has reduced real estate taxes by 80% in an attempt to boost the province\u2019s construction industry, a news source reported on August 18. KP Board of Revenue Senior Official Syed Zafar Ali said that the provincial executive reduced taxes on the sector to revive it following the pandemic-induced economic slowdown.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-abolish-withholding-taxes-phase-wise-manner.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to abolish withholding taxes in phase-wise manner<\/a><\/p>\n\n\n\n<p>Ali explained that four different types of real estate taxes were reduced from 6% to 2%. These included capital value added tax, local government tax, stamp duty, and registration fee, he said. He highlighted the tax cuts would attract additional investment as well as create jobs.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/punjab-10-rebate-on-property-taxes.html\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab offers 10% rebate on property taxes: Akhtar<\/a><\/p>\n\n\n\n<p>The senior official opined that the COVID-19 pandemic had severely affected the construction sector in the province. He added that the government\u2019s job was not only aimed at revenue generation but to provide relief and facilities to the public as well. The measures taken by the provincial government would revolutionise the construction industry as well as benefit the associated sectors, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peshawar: The Khyber Pakhtunkhwa (KP) government has reduced real estate taxes by 80% in an attempt to boost the province\u2019s construction industry, a news source reported on August 18. KP Board of Revenue Senior Official Syed Zafar Ali said that the provincial executive reduced taxes on the sector to revive it following the pandemic-induced economic slowdown. Read: FBR to abolish withholding taxes in phase-wise manner Ali explained that four different types of real estate taxes were reduced from 6% to 2%. These included capital value added tax, local government tax, stamp duty, and registration fee, he said. He highlighted the tax cuts would attract additional investment as well as create jobs. Read: Punjab offers 10% rebate on property taxes: Akhtar The senior official opined that the COVID-19 pandemic had severely affected the construction sector in the province. He added that the government\u2019s job was not only aimed at revenue generation but to provide relief and facilities to the public as well. The measures taken by the provincial government would revolutionise the construction industry as well as benefit the associated sectors, he said.<\/p>\n","protected":false},"author":68,"featured_media":63123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[37162],"persona":[],"class_list":{"0":"post-69363","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-kp-govt-reduces-real-estate-taxes-by-80","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>KP govt reduces real estate taxes by 80% - Zameen News<\/title>\n<meta name=\"description\" content=\"The KP government has reduced real estate taxes by 80% in an attempt to boost the province\u2019s construction industry, a news source reported on August 18.\" \/>\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\/kp-govt-reduces-real-estate-taxes-80-percent.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KP govt reduces real estate taxes by 80% - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The KP government has reduced real estate taxes by 80% in an attempt to boost the province\u2019s construction industry, a news source reported on August 18.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/kp-govt-reduces-real-estate-taxes-80-percent.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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