FBR Slashes Property Valuation Rates in Five Cities
FBR cuts property valuation rates by up to 30% in five cities to align with market prices, boost real estate activity, and improve tax compliance.
FBR Arrest Powers Curtailed as Govt Pushes Tax Reforms, Kayani Says
Bilal Azhar Kayani announced that arrest powers of Federal Board of Revenue (FBR) officials have been significantly reduced under tax reforms, aiming to improve ease of doing business and strengthen taxpayer protections in Pakistan.
FCC Hears Challenge to Section 7E of Income Tax Ordinance Over “Deemed Income” Tax
FCC has been told that Section 7E of the Income Tax Ordinance, 2001—introducing tax on deemed income from immovable property—is unconstitutional and should be struck down. Petitioners argued that the levy effectively amounts to a tax on capital value beyond federal legislative authority.
FBR Revises Property Valuations in Islamabad
The FBR has introduced revised fair market values for properties in Islamabad, targeting improved tax compliance and transparency. The updated rates are expected to impact transaction costs, particularly in prime sectors, while curbing under-declaration in real estate deals.