{"id":71295,"date":"2020-10-09T09:59:00","date_gmt":"2020-10-09T04:59:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=71295"},"modified":"2020-10-08T18:01:30","modified_gmt":"2020-10-08T13:01:30","slug":"fbr-issues-sro-regulating-real-estate-transactions","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-issues-sro-regulating-real-estate-transactions.html","title":{"rendered":"FBR issues SRO regulating real estate transactions"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has issued a Statutory Regulatory Order (SRO) to regulate the transactions carried out with the help of real estate agents \u2014 according to a news source published on October 8. The SRO had been issued at the end of last month and makes it mandatory for all property agents to keep and provide an updated record of all sale and purchase transactions to the tax authority.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-monitor-real-estate-jewellery-transactions.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations<\/a><\/p>\n\n\n\n<p>According to the details available, the SRO 924(1)\/2020 further binds the real estate agents to perform customer due diligence. In August, the FBR had also issued SRO 773(1)\/2020 that required banks to report all payments worth PKR 1 million or more, or deposits worth PKR 10 million or more, in a single month.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-shares-numbers-real-estate-projects-up-registration.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR shares numbers of real estate projects in queue for registration via IRIS<\/a><\/p>\n\n\n\n<p>The SRO 924(1)\/2020 additionally allows the FBR to conduct on-site inspections if required. Both the SROs have been issued as a part of the efforts made by Pakistani authorities to meet the Financial Action Task Force (FATF) requirements that are aimed at curbing money laundering and terror financing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has issued a Statutory Regulatory Order (SRO) to regulate the transactions carried out with the help of real estate agents \u2014 according to a news source published on October 8. The SRO had been issued at the end of last month and makes it mandatory for all property agents to keep and provide an updated record of all sale and purchase transactions to the tax authority. Read: FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations According to the details available, the SRO 924(1)\/2020 further binds the real estate agents to perform customer due diligence. In August, the FBR had also issued SRO 773(1)\/2020 that required banks to report all payments worth PKR 1 million or more, or deposits worth PKR 10 million or more, in a single month. Read: FBR shares numbers of real estate projects in queue for registration via IRIS The SRO 924(1)\/2020 additionally allows the FBR to conduct on-site inspections if required. Both the SROs have been issued as a part of the efforts made by Pakistani authorities to meet the Financial Action Task Force (FATF) requirements that are aimed at curbing money laundering&hellip;<\/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":[15016],"tags":[19230,823,21020],"persona":[],"class_list":{"0":"post-71295","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-federal-board-of-revenue-fbr","9":"tag-real-estate-agents","10":"tag-real-estate-transactions","11":"cat-15016-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 issues SRO regulating real estate transactions - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has issued a Statutory Regulatory Order (SRO) to regulate the transactions carried out with the help of real estate agents \u2014 according to a news source published on October 8.\" \/>\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-issues-sro-regulating-real-estate-transactions.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR issues SRO regulating real estate transactions - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has issued a Statutory Regulatory Order (SRO) to regulate the transactions carried out with the help of real estate agents \u2014 according to a news source published on October 8.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-issues-sro-regulating-real-estate-transactions.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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