{"id":94099,"date":"2023-07-05T14:09:55","date_gmt":"2023-07-05T09:09:55","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=94099"},"modified":"2023-07-05T14:09:57","modified_gmt":"2023-07-05T09:09:57","slug":"increase-withholding-tax-immovable-properties","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/increase-withholding-tax-immovable-properties.html","title":{"rendered":"Withholding tax on immovable properties increased"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has increased withholding tax for immovable properties with effect from July 1, in accordance with the Finance Act 2023, a news source reported on July 4.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-introduces-income-tax-return-form-for-smes.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR shares Income Tax Return forms for SMEs<\/a><\/p>\n\n\n\n<p>As per the details, the board has increased the rates for buyers and sellers of immovable properties. The recently implemented Finance Act 2023 has brought increase in withholding tax for immovable properties for income tax filers and non-filers in relation to the sale, transfer, purchase, or transfer of immovable property.<\/p>\n\n\n\n<p>Under section 236C, the rate of withholding tax has increased from 2% to 3% for filers and from 4% to 6% for non-filers.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to set up International Centre of Tax Excellence<\/a><\/p>\n\n\n\n<p>Similarly, under section 236K, the withholding tax rate has risen from 2% to 3% for filers and from 7% to 10.5% for non-filers. These adjustments have been made as per the instructions provided by the FBR.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Board of Revenue (FBR) has implemented the new tax regulations for immovable property transactions from July 1&#8230;..<\/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":[19230,57169],"persona":[],"class_list":{"0":"post-94099","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-federal-board-of-revenue-fbr","9":"tag-withholding-tax-on-immovable-properties-increased","10":"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>Increase in Withholding Tax for Immovable Properties- Zameen News<\/title>\n<meta name=\"description\" content=\"The Federal Board of Revenue (FBR) has increase in withholding tax for immovable properties with effect from......\" \/>\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\/increase-withholding-tax-immovable-properties.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Increase in Withholding Tax for Immovable Properties- Zameen News\" \/>\n<meta property=\"og:description\" content=\"The Federal Board of Revenue (FBR) has increase in withholding tax for immovable properties with effect from......\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/increase-withholding-tax-immovable-properties.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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