{"id":76546,"date":"2021-06-03T12:44:28","date_gmt":"2021-06-03T07:44:28","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=76546"},"modified":"2021-06-03T12:49:33","modified_gmt":"2021-06-03T07:49:33","slug":"tax-regime-revision-cards-real-estate-sector","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html","title":{"rendered":"Tax regime revision on cards for real estate sector"},"content":{"rendered":"\n<p>Islamabad: The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22), according to press reports. The revision would yield an additional PKR 8 billion in revenue for the national exchequer.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/e-challan-rolled-property-tax-collection-sindh.html\" target=\"_blank\" rel=\"noreferrer noopener\">E-challan rolled out for property tax collection in Sindh<\/a><\/p>\n\n\n\n<p>According to finance ministry officials, implementing the \u2018normal tax regime\u2019 on the non-transferable\/immovable property (valued more than PKR 20 million) will produce an extra PKR 4 billion in yearly income. Moreover, the government may alter the tax system on property\u2019s <a href=\"http:\/\/Government urged to slash tax on rental income\" target=\"_blank\" rel=\"noreferrer noopener\">rental income<\/a>, generating an additional PKR 4 billion in revenue. <\/p>\n\n\n\n<p>However, as per the sources, the total tax collection of PKR 8 billion expected from these two measurements, is significantly less than what the government might earn by revising property valuations closer to their fair market rates.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/rental-value-to-become-base-of-property-tax-instead-of-area.html\" target=\"_blank\" rel=\"noreferrer noopener\">Rental value to become base of property tax, instead of area<\/a><\/p>\n\n\n\n<p>It was reported that, presently, the Capital Gains Tax (CGT) rate for the highest income slab of above PKR 15 million is only 10%. In comparison, if someone earns between PKR 15 million and PKR 30 million per year, they are subjected to a 27.5% income tax. As per the source, the downward revision of property valuation tables is costing severely to the national treasury.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22), according to press reports. The revision would yield an additional PKR 8 billion in revenue for the national exchequer. Read: E-challan rolled out for property tax collection in Sindh According to finance ministry officials, implementing the \u2018normal tax regime\u2019 on the non-transferable\/immovable property (valued more than PKR 20 million) will produce an extra PKR 4 billion in yearly income. Moreover, the government may alter the tax system on property\u2019s rental income, generating an additional PKR 4 billion in revenue. However, as per the sources, the total tax collection of PKR 8 billion expected from these two measurements, is significantly less than what the government might earn by revising property valuations closer to their fair market rates. Read: Rental value to become base of property tax, instead of area It was reported that, presently, the Capital Gains Tax (CGT) rate for the highest income slab of above PKR 15 million is only 10%. In comparison, if someone earns between PKR 15 million and PKR 30 million per year, they are subjected to a 27.5% income tax. As per the source, the&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15016,15017],"tags":[3339,6038,1109],"persona":[],"class_list":{"0":"post-76546","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-new-developments","9":"category-notices-announcements","10":"tag-real-estate-taxes","11":"tag-tax-amnesty-scheme","12":"tag-tax-reforms","13":"cat-15015-id","14":"cat-15016-id","15":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax regime revision on cards for real estate sector - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad:The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22)\" \/>\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\/tax-regime-revision-cards-real-estate-sector.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax regime revision on cards for real estate sector - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad:The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.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=\"2021-06-03T07:44:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-03T07:49:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/News-Cover-property-tax.jpg\" \/>\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\/jpeg\" \/>\n<meta name=\"author\" content=\"Nauman Ahmad\" \/>\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=\"Nauman Ahmad\" \/>\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":"Tax regime revision on cards for real estate sector - Zameen News","description":"Islamabad:The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html","og_locale":"en_US","og_type":"article","og_title":"Tax regime revision on cards for real estate sector - Zameen News","og_description":"Islamabad:The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22)","og_url":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2021-06-03T07:44:28+00:00","article_modified_time":"2021-06-03T07:49:33+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/News-Cover-property-tax.jpg","type":"image\/jpeg"}],"author":"Nauman Ahmad","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Nauman Ahmad","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html"},"author":{"name":"Nauman Ahmad","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0ea33500845f59b56c53060ac1ef44a9"},"headline":"Tax regime revision on cards for real estate sector","datePublished":"2021-06-03T07:44:28+00:00","dateModified":"2021-06-03T07:49:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html"},"wordCount":214,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/News-Cover-property-tax.jpg","keywords":["real estate taxes","tax amnesty scheme","tax reforms"],"articleSection":["Legal &amp; Taxation","New Developments","Notices &amp; Announcements"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html","url":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html","name":"Tax regime revision on cards for real estate sector - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/News-Cover-property-tax.jpg","datePublished":"2021-06-03T07:44:28+00:00","dateModified":"2021-06-03T07:49:33+00:00","description":"Islamabad:The government is considering changing the tax regime for the real estate industry in the upcoming fiscal budget (2021-22)","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/News-Cover-property-tax.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/News-Cover-property-tax.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/tax-regime-revision-cards-real-estate-sector.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"Tax regime revision on cards for real estate sector"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/0ea33500845f59b56c53060ac1ef44a9","name":"Nauman Ahmad","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/Picture1-96x96.png","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/Picture1-96x96.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/Picture1-96x96.png","caption":"Nauman Ahmad"},"description":"Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.","sameAs":["https:\/\/www.zameen.com"],"url":"https:\/\/www.zameen.com\/news\/author\/nauman_ahmad"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/76546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=76546"}],"version-history":[{"count":2,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/76546\/revisions"}],"predecessor-version":[{"id":76549,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/76546\/revisions\/76549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/76290"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=76546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=76546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=76546"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=76546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}