{"id":97868,"date":"2024-07-10T10:54:42","date_gmt":"2024-07-10T05:54:42","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=97868"},"modified":"2024-07-10T10:54:43","modified_gmt":"2024-07-10T05:54:43","slug":"fbr-redoes-wht-property-deals","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html","title":{"rendered":"Effective July 1, FBR updates WHT regulations for property deals"},"content":{"rendered":"\n<p>Lahore: The Federal Board of Revenue (FBR) has updated its withholding tax (WHT) regulations affecting the sale and purchase of immovable property, motor vehicle transactions, and salary income, according to a news source on July 10.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-launches-extensive-trader-registration-drive.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR launches extensive trader registration drive across Pakistan<\/a><\/p>\n\n\n\n<p>As per the details, the new provisions, effective from July 1, 2024, are outlined in a notification directing Inland Revenue chief commissioners to ensure compliance with these updated rules.<\/p>\n\n\n\n<p><strong>Key changes for immovable property transactions:<\/strong><\/p>\n\n\n\n<p>Withholding tax rates for the sale of immovable property vary based on the type of property and the duration of ownership:<\/p>\n\n\n\n<p><strong>For filers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3% for transactions up to PKR 50 million<\/li>\n\n\n\n<li>3.5% for transactions exceeding PKR 50 million but up to PKR 100 million<\/li>\n\n\n\n<li>4% for transactions over PKR 100 million<\/li>\n<\/ul>\n\n\n\n<p><strong>For late filers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>6% for transactions up to PKR 50 million<\/li>\n\n\n\n<li>7% for transactions exceeding PKR 50 million but up to PKR 100 million<\/li>\n\n\n\n<li>8% for transactions over PKR 100 million<\/li>\n<\/ul>\n\n\n\n<p><strong>For non-filers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A flat rate of 10% on the gross consideration<\/li>\n<\/ul>\n\n\n\n<p>Withholding tax rates for the purchase of immovable property are determined by the property&#8217;s value and the tax regulations set by the local government.<\/p>\n\n\n\n<p><strong>For filers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3% for fair market values up to PKR 50 million<\/li>\n\n\n\n<li>3.5% for values exceeding PKR 50 million but up to PKR 100 million<\/li>\n\n\n\n<li>4% for values over PKR 100 million<\/li>\n<\/ul>\n\n\n\n<p><strong>For late filers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>6% for fair market values up to PKR 50 million<\/li>\n\n\n\n<li>7% for values exceeding PKR 50 million but up to PKR 100 million<\/li>\n\n\n\n<li>8% for values over PKR 100 million<\/li>\n<\/ul>\n\n\n\n<p><strong>For non-filers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>12% for values up to PKR 50 million<\/li>\n\n\n\n<li>16% for values exceeding PKR 50 million but up to PKR 100 million<\/li>\n\n\n\n<li>20% for values over PKR 100 million<\/li>\n<\/ul>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-projects-9-tax-to-gdp-ratio-for-fy-2024-25.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR projects 9% Tax-to-GDP Ratio for FY 2024-25<\/a><\/p>\n\n\n\n<p>Additionally, the notification removes specific exemptions for manufacturers, commercial importers, wholesalers, dealers, and distributors, requiring tax deductions irrespective of the sector involved. These changes aim to enhance tax compliance and ensure fair taxation practices across these sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Federal Board of Revenue (FBR) has updated its withholding tax (WHT) regulations affecting the sale and purchase of immovable property, motor vehicle transactions, and salary income, according to a news source on July 10. Read: FBR launches extensive trader registration drive across Pakistan As per the details, the new provisions, effective from July 1, 2024, are outlined in a notification directing Inland Revenue chief commissioners to ensure compliance with these updated rules. Key changes for immovable property transactions: Withholding tax rates for the sale of immovable property vary based on the type of property and the duration of ownership: For filers: For late filers: For non-filers: Withholding tax rates for the purchase of immovable property are determined by the property&#8217;s value and the tax regulations set by the local government. For filers: For late filers: For non-filers: Read: FBR projects 9% Tax-to-GDP Ratio for FY 2024-25 Additionally, the notification removes specific exemptions for manufacturers, commercial importers, wholesalers, dealers, and distributors, requiring tax deductions irrespective of the sector involved. These changes aim to enhance tax compliance and ensure fair taxation practices across these sectors.<\/p>\n","protected":false},"author":88,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15017],"tags":[54453,19230,58749],"persona":[],"class_list":{"0":"post-97868","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-fbr-news-and-updates","10":"tag-federal-board-of-revenue-fbr","11":"tag-wht-on-property-deals","12":"cat-15015-id","13":"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>FBR Redoes WHT on Property Deals- Zameen News<\/title>\n<meta name=\"description\" content=\"FBR updates WHT regulations impacting property sales, effective July 1. Read this article for more details!\" \/>\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-redoes-wht-property-deals.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Redoes WHT on Property Deals- Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR updates WHT regulations impacting property sales, effective July 1. Read this article for more details!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.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=\"2024-07-10T05:54:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-10T05:54:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.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=\"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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR Redoes WHT on Property Deals- Zameen News","description":"FBR updates WHT regulations impacting property sales, effective July 1. Read this article for more details!","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\/fbr-redoes-wht-property-deals.html","og_locale":"en_US","og_type":"article","og_title":"FBR Redoes WHT on Property Deals- Zameen News","og_description":"FBR updates WHT regulations impacting property sales, effective July 1. Read this article for more details!","og_url":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.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":"2024-07-10T05:54:42+00:00","article_modified_time":"2024-07-10T05:54:43+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","type":"image\/jpeg"}],"author":"Muhammad Zohaib Nasir","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Muhammad Zohaib Nasir","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html"},"author":{"name":"Muhammad Zohaib Nasir","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/e52d08c48c8141ff2bf4db7bff52ddc6"},"headline":"Effective July 1, FBR updates WHT regulations for property deals","datePublished":"2024-07-10T05:54:42+00:00","dateModified":"2024-07-10T05:54:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html"},"wordCount":308,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","keywords":["FBR news and updates","Federal Board of Revenue (FBR)","WHT on Property Deals"],"articleSection":["Legal &amp; Taxation","Notices &amp; Announcements"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html","url":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html","name":"FBR Redoes WHT on Property Deals- Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","datePublished":"2024-07-10T05:54:42+00:00","dateModified":"2024-07-10T05:54:43+00:00","description":"FBR updates WHT regulations impacting property sales, effective July 1. Read this article for more details!","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/fbr-redoes-wht-property-deals.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"Effective July 1, FBR updates WHT regulations for property deals"}]},{"@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\/e52d08c48c8141ff2bf4db7bff52ddc6","name":"Muhammad Zohaib Nasir","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2023\/07\/WhatsApp-Image-2023-07-12-at-8.18.24-AM-96x96.jpeg","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2023\/07\/WhatsApp-Image-2023-07-12-at-8.18.24-AM-96x96.jpeg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2023\/07\/WhatsApp-Image-2023-07-12-at-8.18.24-AM-96x96.jpeg","caption":"Muhammad Zohaib Nasir"},"description":"As a graduate in English Literature, Zohaib believes that words are not just a mere figment of imagination. It takes wisdom to be good at them. Following this reason, he is pursuing his career as Public Relations and Content Specialist at Zameen.com.","url":"https:\/\/www.zameen.com\/news\/author\/zohaib-nasir"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/97868","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\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=97868"}],"version-history":[{"count":1,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/97868\/revisions"}],"predecessor-version":[{"id":97869,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/97868\/revisions\/97869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/75334"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=97868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=97868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=97868"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=97868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}