{"id":86400,"date":"2022-06-03T16:45:00","date_gmt":"2022-06-03T11:45:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86400"},"modified":"2022-06-03T15:57:21","modified_gmt":"2022-06-03T10:57:21","slug":"fbr-luxury-tax-big-houses-posh-areas","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-luxury-tax-big-houses-posh-areas.html","title":{"rendered":"Budget 2022-23: FBR mulls imposing luxury tax on big houses in posh areas"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: The Federal Board of Revenue (FBR) is considering imposing a luxury tax in the coming budget (2022-23) on the big houses that are located in posh areas, according to news published on June 2.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/miftah-fbr-discuss-tax-collection-targets.html\" target=\"_blank\" rel=\"noreferrer noopener\">FY 2022-23: Miftah, FBR discuss tax collection targets<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As per the details, the <a href=\"https:\/\/www.zameen.com\/news\/fbr-downward-revision-valuation-rates.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR <\/a>is reviewing the legal aspects of the proposal; however, the final decision has not been taken.&nbsp; The Punjab government in the Finance Bill 2013-14 levied a luxury tax on the residential properties in the areas that fall under Category A of the Punjab Urban Immovable Property Tax Act, 1958. The details of the tax rates are as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>PKR 0.5 million for a residential house measuring two (or above) kanals but less than 4 kanals<\/li><li>PKR 1 million for a residential house measuring four (or above) kanals but less than 8 kanals<\/li><li>PKR 1.5 million for houses measuring more than 8 kanals&nbsp;<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-to-serve-electronic-tax-notices-to-taxpayers.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to serve electronic tax notices to taxpayers<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the Lahore High Court (LHC) cancelled the notification of luxury taxes after the decision was challenged in the court.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) is considering imposing a luxury tax in the coming budget (2022-23) on the big houses that are located in posh areas, according to news published on June 2. Read: FY 2022-23: Miftah, FBR discuss tax collection targets As per the details, the FBR is reviewing the legal aspects of the proposal; however, the final decision has not been taken.&nbsp; The Punjab government in the Finance Bill 2013-14 levied a luxury tax on the residential properties in the areas that fall under Category A of the Punjab Urban Immovable Property Tax Act, 1958. The details of the tax rates are as follows: PKR 0.5 million for a residential house measuring two (or above) kanals but less than 4 kanals PKR 1 million for a residential house measuring four (or above) kanals but less than 8 kanals PKR 1.5 million for houses measuring more than 8 kanals&nbsp; Read: FBR to serve electronic tax notices to taxpayers However, the Lahore High Court (LHC) cancelled the notification of luxury taxes after the decision was challenged in the court.&nbsp;<\/p>\n","protected":false},"author":83,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[52571,19230,46395],"persona":[],"class_list":["post-86400","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-budget-2022-23-fbr-mulls-imposing-luxury-tax-on-big-houses-in-posh-areas","tag-federal-board-of-revenue-fbr","tag-luxury-tax-on-houses-above-4-kanal","cat-15015-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR mulls imposing luxury tax on big houses in posh areas- Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) is considering imposing a luxury tax in the coming budget (2022-23) on the big houses that are located....\" \/>\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-luxury-tax-big-houses-posh-areas.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR mulls imposing luxury tax on big houses in posh areas- Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Federal Board of Revenue (FBR) is considering imposing a luxury tax in the coming budget (2022-23) on the big houses that are located....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-luxury-tax-big-houses-posh-areas.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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