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 and reshuffling the Federal Board of Revenue (FBR) in interim period.
The nationwide tax assessment and documentation drive is set to launch from November 30, with the relevant authorities being directed to complete the task within two years and submit detailed proposals later.
According to the Prime Minister’s directives, surveys of immovable properties – starting with the industrial area in Islamabad this month – will also be conducted and concluded over the next two years. The Ministry of Interior and Ministry of Defence will also be involved to ensure smooth and timely completion of the project.
Additionally, the FBR has been instructed to implement the value added tax regime for the business sector over the next three years, with June 2022 being the deadline for the total implementation of VAT.
For more news and blogs, visit graana.com.
Islamabad: The chairman of the Capital Development Authority (CDA) and Chief Commissioner Islamabad, Muhammad Ali…
Peshawar: The Khyber Pakhtunkhwa government is exploring plans to construct a 31-kilometre outer ring road…
Islamabad: The National Highway Authority (NHA) has spent more than half of its development budget…
Karachi: A high-level meeting chaired by Sindh Minister for Local Government Syed Nasir Hussain Shah…
Riyadh: Saudi Real Estate Co. (Al Akaria) has signed a long-term lease agreement with Amsa…
Rawalpindi: The divisional administration has begun acquiring land for the Rs5 billion Thalian Interchange, a…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
