President Mamnoon Hussain stated new property tax ordinance in Pakistan

Real Estate News 01/02/2018

The president of Pakistan Mamnoon Hussain has stated the new Income Tax policies, late this Sunday.

The purpose of revised ordinance is to implement the valuation rate of property and expected to be applied on immediate basis.

The revised policies came into existence when property holders and FBR became intolerant about the same deal.

According to the new Income Tax policies

  • Civil servants and military officers are allowed to get a 50 percent margin for the deduction of Capital Gains Tax when they will sell out plots allotted by the government.
  • The scion of martyrs would be charged no withholding tax and Capital Gains Tax on the allotted plots by the government.