Property taxes
May 11, 2023
The Federal Board of Revenue (FBR) intends to revise the valuation table for immovable properties across Pakistan from July 1, 2023. Section 7E introduced in the last budget – FY 2022-2023 – has had a declining effect in the rates of plots and immovable properties since last year. It may not be a wise and plausible decision to revise the valuation tables in the upcoming budget – FY2023-2024. Many assume that this decision would have a negative impact on the real estate sector that is already feeling the brunt of last year’s unfair and double taxation.
Mumraiz Khan
Karachi
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