FBR to Raise Property Rates and Revise Taxes Starting July 2024 In a recent announcement, the Federal Board of Revenue (FBR) in Pakistan, along with the government, has decided to increase property rates and revise taxes starting July 2024. This decision, approved by the World Bank under the "Pakistan Raises Revenues" loan scheme, aims to improve tax collection efforts across the country. Higher...
Punjab's Real Estate Market Gets Relief From FBR LAHORE: According to the Federal Board of Revenue, persons involved in the real estate sector in Punjab are exempt under Section 7E. (As reported by the news source) Section 7E of the Income Tax Ordinance, 2001 has been informed of a partial amendment by the Federal Board of Revenue (FBR). The current budget includes a 1% tax on the purchase,...