{"id":84449,"date":"2022-03-09T16:23:59","date_gmt":"2022-03-09T11:23:59","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=84449"},"modified":"2022-03-09T16:24:00","modified_gmt":"2022-03-09T11:24:00","slug":"wb-estimates-punjab-real-estate-sectors-tax-potential","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wb-estimates-punjab-real-estate-sectors-tax-potential.html","title":{"rendered":"World Bank shares estimates on Punjab real estate sectors\u2019 tax potential"},"content":{"rendered":"\n<p>Lahore: The World Bank (WB) \u2013 in a recent report cited by the national dailies on March 8\u2013 has estimated Punjab real estate sector\u2019s tax potential at PKR 400 billion. This, according to the bank\u2019s report, can be materialized through digital land record keeping.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/ongoing-54-wb-funded-projects.html\" target=\"_blank\" rel=\"noreferrer noopener\">Minister receives briefing on ongoing 54 WB-funded projects<\/a><\/p>\n\n\n\n<p>The report identifies services sales tax, urban immovable property tax (UIPT), and stamp duty to be the three primary sources for revenue collection, with the two of them being real estate-oriented. The UIPT is collected by the Excise and Taxation Department (E&amp;TD) and the stamp duty by the Board of Revenue (BoR).<\/p>\n\n\n\n<p>According to the World Bank report, a centralised cadaster-based transparent land record system has the capacity to boost the revenue stream for Punjab. With an improved land record base, the authorities will get data insights to analyze updated policy measures, enhance coordination between E&amp;TD and BoR and improved implementation of UIPT and stamp duty.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/wb-punjab-affordable-housing.html\" target=\"_blank\" rel=\"noreferrer noopener\">WB to support Punjab improve access to affordable housing<\/a><\/p>\n\n\n\n<p>As per the report, the Punjab Housing and Town Planning Agency is expected to add up to 2.5 million units to the existing <a href=\"https:\/\/www.zameen.com\/news\/wb-to-provide-funding-for-pakistans-housing-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">housing<\/a> stock. However, the overall housing shortfall is expected to reach 11.3 million units by 2047. The need for housing units will rise due to increased urbanisation, migration, and the degradation of existing homes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The World Bank (WB) \u2013 in a recent report cited by the national dailies on March 8\u2013 has estimated Punjab real estate sector\u2019s tax potential at PKR 400 billion. This, according to the bank\u2019s report, can be materialized through digital land record keeping. Read: Minister receives briefing on ongoing 54 WB-funded projects The report identifies services sales tax, urban immovable property tax (UIPT), and stamp duty to be the three primary sources for revenue collection, with the two of them being real estate-oriented. The UIPT is collected by the Excise and Taxation Department (E&amp;TD) and the stamp duty by the Board of Revenue (BoR). According to the World Bank report, a centralised cadaster-based transparent land record system has the capacity to boost the revenue stream for Punjab. With an improved land record base, the authorities will get data insights to analyze updated policy measures, enhance coordination between E&amp;TD and BoR and improved implementation of UIPT and stamp duty. Read: WB to support Punjab improve access to affordable housing As per the report, the Punjab Housing and Town Planning Agency is expected to add up to 2.5 million units to the existing housing stock. However, the overall housing shortfall is&hellip;<\/p>\n","protected":false},"author":75,"featured_media":62276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[21890,51476],"persona":[],"class_list":{"0":"post-84449","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-world-bank-wb","10":"tag-world-bank-shares-estimates-on-punjab-real-estate-sectors-tax-potential","11":"cat-15016-id","12":"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>WB estimates on Punjab real estate sector\u2019s tax potential - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The World Bank (WB) \u2013 in a recent report cited by the national dailies on March 8\u2013 has estimated Punjab real estate sector\u2019s tax potential at PKR\" \/>\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\/wb-estimates-punjab-real-estate-sectors-tax-potential.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WB estimates on Punjab real estate sector\u2019s tax potential - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The World Bank (WB) \u2013 in a recent report cited by the national dailies on March 8\u2013 has estimated Punjab real estate sector\u2019s tax potential at PKR\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wb-estimates-punjab-real-estate-sectors-tax-potential.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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