{"id":97654,"date":"2024-06-25T11:07:42","date_gmt":"2024-06-25T06:07:42","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=97654"},"modified":"2024-06-25T14:25:59","modified_gmt":"2024-06-25T09:25:59","slug":"pakistan-government-suggested-new-fed","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-government-suggested-new-fed.html","title":{"rendered":"Plot purchasing hit with 5% FED in PAK\u2019s latest budget move"},"content":{"rendered":"\n<p>Islamabad: The Pakistan Government has recently proposed a 5% federal excise duty (FED) on the sale and purchase of new plots; including both residential and commercial properties, as reported by a recently published news article.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/overseas-pakistanis-to-get-access-to-property.html\" target=\"_blank\" rel=\"noreferrer noopener\">Overseas Pakistanis to gain easier access to property market in Punjab<\/a><\/p>\n\n\n\n<p>According to the details, this measure, introduced by Finance Minister Muhammad Aurangzeb during his budget speech on Wednesday, aims to curb speculation and stabilise the real estate market. The government is also considering a gradual increase in the withholding tax rate for the sale and purchase of immovable property, depending on the investment amount. This move is part of broader efforts to regulate the real estate sector and ensure transparency in transactions.<\/p>\n\n\n\n<p>To further this goal, the government announced several initiatives, including the digitisation of E-Registry and property transfer services. A QR code payment mechanism will be introduced at cattle markets to prevent tax evasion.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/karachi-gets-remarkable-package-gop.html\" target=\"_blank\" rel=\"noreferrer noopener\">Budget 2024-25: Pak Govt unveils \u2018Comprehensive Karachi Package\u2019<\/a><\/p>\n\n\n\n<p>In addition, new taxes on non-filers are proposed in the upcoming budget to encourage tax compliance and deter illegal transactions. These measures are designed to enhance transparency and curb fraudulent practices in the real estate market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Pakistan Government has recently proposed a 5% federal excise duty (FED) on the sale and purchase of new plots; including both residential and commercial properties, as reported by a recently published news article. Read: Overseas Pakistanis to gain easier access to property market in Punjab According to the details, this measure, introduced by Finance Minister Muhammad Aurangzeb during his budget speech on Wednesday, aims to curb speculation and stabilise the real estate market. The government is also considering a gradual increase in the withholding tax rate for the sale and purchase of immovable property, depending on the investment amount. This move is part of broader efforts to regulate the real estate sector and ensure transparency in transactions. To further this goal, the government announced several initiatives, including the digitisation of E-Registry and property transfer services. A QR code payment mechanism will be introduced at cattle markets to prevent tax evasion. Read: Budget 2024-25: Pak Govt unveils \u2018Comprehensive Karachi Package\u2019 In addition, new taxes on non-filers are proposed in the upcoming budget to encourage tax compliance and deter illegal transactions. These measures are designed to enhance transparency and curb fraudulent practices in the real estate market.<\/p>\n","protected":false},"author":88,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15017],"tags":[58595,58594],"persona":[],"class_list":{"0":"post-97654","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-notices-announcements","9":"tag-federal-news-and-updates","10":"tag-pakistan-government-news-and-updates","11":"cat-15015-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>Pakistan Government Suggested New FED - Zameen News<\/title>\n<meta name=\"description\" content=\"Pakistan Government proposes 5% federal excise duty (FED) on new plot sales, residential and commercial, per recent news reports.\" \/>\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\/pakistan-government-suggested-new-fed.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan Government Suggested New FED - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Pakistan Government proposes 5% federal excise duty (FED) on new plot sales, residential and commercial, per recent news reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistan-government-suggested-new-fed.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=\"2024-06-25T06:07:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-25T09:25:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/GoP.png\" \/>\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\/png\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\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=\"Muhammad Zohaib Nasir\" \/>\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":"Pakistan Government Suggested New FED - Zameen News","description":"Pakistan Government proposes 5% federal excise duty (FED) on new plot sales, residential and commercial, per recent news reports.","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\/pakistan-government-suggested-new-fed.html","og_locale":"en_US","og_type":"article","og_title":"Pakistan Government Suggested New FED - Zameen News","og_description":"Pakistan Government proposes 5% federal excise duty (FED) on new plot sales, residential and commercial, per recent news reports.","og_url":"https:\/\/www.zameen.com\/news\/pakistan-government-suggested-new-fed.html","og_site_name":"Pakistan Real Estate News &amp; 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