Updated Real Estate Taxes Fiscal Year 2024-2025 – Federal Board of Revenue

Updated Real Estate Taxes Fiscal Year 2024-2025 – Federal Board of Revenue

Updated Real Estate Taxes for Seller

CategoryFor FilerLate FilerNon-Filer
Property Valuing Up To 50 Million Rupees 3 % 6 % 10 %
Property Valuing Between 50 – 100 Million Rupees 3.5 % 7 % 10 %
Property Valuing Above 100 Million Rupees 4 % 8 % 10 %

Updated Property Taxes for Purchaser

CategoryFor FilerLate FilerNon-Filer
Property Valuing Up To 50 Million Rupees 3 % 6 % 12 %
Property Valuing Between 50 – 100 Million Rupees 3.5 % 7 % 16 %
Property Valuing Above 100 Million Rupees 4 % 8 % 20 %

Note: For individuals newly registered with the FBR who have not yet filed a return, they will be considered late filers. Multiworks 

 

The Federal Board of Revenue (FBR) has announced updated real estate taxes for the fiscal year 2024-2025. These changes aim to streamline the taxation process, promote compliance, and ensure a fair contribution from all stakeholders in the real estate market. The new tax structure is designed to support economic growth and enhance transparency within the sector.

The tax updates include adjustments for sellers and purchasers of properties, with distinct rates based on their filer status. Sellers will face different tax rates if they are registered filers, late filers, or non-filers. Similarly, purchasers will also be taxed according to their compliance status with FBR regulations. These changes are part of the FBR’s broader strategy to improve tax collection and compliance.

In conclusion, the updated real estate taxes for the fiscal year 2024-2025 introduced by the Federal Board of Revenue mark a significant step towards enhancing the efficiency and transparency of the real estate market in Pakistan. By implementing a more structured and fair taxation system, the FBR aims to encourage greater compliance among property sellers and purchasers, thereby increasing overall tax revenue. This initiative reflects the government’s commitment to fostering economic stability and growth through improved tax policies and regulatory measures. Stakeholders in the real estate sector are encouraged to familiarize themselves with these new tax regulations to ensure smooth and compliant transactions.

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