Real Estate Taxation

LDA commits to Federal Government’s construction package

July 14, 2020

LAHORE: In accordance with Prime Minister Imran Khan’s vision, the Lahore Development Authority has committed to the Federal Government’s incentive package under the guidance of Chief Minister Punjab.  Under the initiative, the authority will approve the building plans of all residential, commercial, industrial and warehouse projects within 30 days of[...]
Drive for registration of Islamabad estate agencies kicks off

Drive for registration of Islamabad estate agencies kicks off

January 29, 2020

ISLAMABAD: Chief Commissioner Islamabad Amir Ali Ahmed, who is also serving as Secretary Excise & Taxation Department,  has announced the initiation of the much-anticipated drive to register estate agencies and property offices in Islamabad. A delegation consisting of Islamabad Estate Agents Association President Tahir Mehmood, General Secretary Chaudhary Zahid Rafique,[...]
Builders, developers propose measures for increased tax collection

Builders, developers propose measures for increased tax collection

January 1, 2020

ISLAMABAD: A six-member delegation of the Association of Builders and Developers (ABAD) met Advisor to Prime Minister on Finance and Revenues Dr Abdul Hafeez Sheikh to deliberate on different aspects of the real estate and construction sectors. The delegation, headed by Hassan Bakhshi, discussed several proposals to make the market[...]
PM instructs FBR to facilitate builders, developers

PM instructs FBR to facilitate builders, developers

December 22, 2019

ISLAMABAD: Prime Minister Imran Khan has urged the chairman of the Federal Board of Revenue (FBR) to expedite solutions for legitimate woes being faced by builders and developers in their respective projects. The premier issued the directives while chairing a meeting with his economic team, saying that as many as[...]
Tax relief for builders on hold as IMF rejects proposal

Tax relief for builders on hold as IMF rejects proposal

December 4, 2019

ISLAMABAD: The hopes of builders to receive tax concessions suffered a setback as the International Monetary Fund (IMF) dismissed Pakistan’s proposal to introduce a special income tax regime for the construction sector. A simplified tax scheme had been finalised by the government, which included an offer of a 90% reduction[...]
Real estate among others to be monitored via interim setup

Real estate among other sectors to be monitored via interim setup

November 25, 2019

ISLAMABAD: The government’s efforts to address concerns raised by the Financial Action Task Force (FATF) have led to the development of an interim regulatory framework to bring all unregulated sectors of the Pakistan’s economy under scrutiny. The National FATF Coordination Committee (NFCC), commissioned by Prime Minister Imran Khan in the[...]
Regaining taxpayers’ trust crucial for tax system

Regaining taxpayers’ trust crucial for tax system, says PM

November 14, 2019

ISLAMABAD: Prime Minister Imran Khan has urged the Federal Board of Revenue (FBR) to step up efforts to restore taxpayers’ confidence in the tax system, saying that sweeping reforms were the need of the hour to stabilise Pakistan’s economy. In a meeting with the top officials of the FBR, the[...]
Special tax incentives in sight for construction sector

Special tax incentives in sight for construction sector

November 12, 2019

ISLAMABAD: Prime Minister (PM) Imran Khan acknowledged the contribution of the construction sector in Pakistan’s economy, with the government deciding to provide special tax relief and incentives to businesses and industries related to construction sector and support low-cost housing projects. A meeting was held for discussions on the restoration and[...]
Proposed tax assessment surveys given go-ahead

Proposed tax assessment surveys given go-ahead by PM

November 1, 2019

ISLAMABAD: A three-year grand scheme to carry out surveys for tax assessment, evaluate wealth parked in real estate and implement a new value added tax system all over the country has been approved by Prime Minister Imran Khan. The plan includes setting up the Pakistan Revenue Authority by June 2020[...]
Traders secure major concessions, end nationwide strike

Traders secure major concessions, end nationwide strike

October 31, 2019

ISLAMABAD: Traders across the country ended the two-day strike called by the All Pakistan Anjuman-e-Tajiran (APAT) to protest tax reforms after receiving an 11-point agreement by the government. In a news conference, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh announced that while the condition to present[...]