Govt Hints At Ending Property Registration Tax In Upcoming Budget
Mahnoor Sheikh (@mahnoorsheikh03) Published April 17, 2019 | 12:53 PM
The FBR will increase the DC value according to market value of the property.
Lahore (UrduPoint / Pakistan Point News – 17th April, 2019) Finance Minister Asad Umar has hinted at suspending tax imposed on registration of property.
Media reports said that the next fiscal budget will bridge the gap between market value and Federal board of Revenue (FBR) value of the property.
The FBR will increase the DC value according to market value of the property.
The FBR will reduce tax ratio while increasing property value. A 12% federal and provincial tax is being collected on property.
Moreover, the government is also mulling over ending the scheme allowing people to whiten their black money by paying 3% tax.
The Pakistan Muslim League-Nawaz (PML-N) had introduced this scheme to bring people in the tax net.
Meanwhile, a special meeting of the cabinet will be held today to hold a discussion on the proposed Assets Declaration and Amnesty Scheme, 2019.
Prime Minister Imran Khan has called this meeting for further discussion on the scheme.
Related Topics
Recent Stories
Nation will never forget criminals of 9th May who attacked state for politics: P ..
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 9 May 2024
Today Gold Rate in Pakistan 09 May 2024
IHC adjourns PTI founder, Qureshi's appeal till Thursday
CDWP recommends 3 projects to ECNEC for approval
Tarar assures APNS to resolve issues of newspaper industry
Pakistan urged to capitalize on economic stability, for Tobacco Tax Reforms
N. Macedonia polls set to upend ties with EU neighbours
Croatia's ruling party reaches coalition deal with right wing
Bayern coach Tuchel makes three changes for Madrid showdown
Olympic flame arrives on French soil for Paris Games
Punjab Finance Minister announces expansion of Social Protection Authority's man ..
More Stories From Pakistan
-
Seven labourers shot dead in Gwadar shooting
2 minutes ago -
Special meeting called to condemn May 9 incidents: Tarar
2 minutes ago -
Nation will never forget criminals of 9th May who attacked state for politics: PM
5 minutes ago -
'No peace rather devastation has increased manifold in IIOJK'; Omar Abdullah
12 minutes ago -
KP govt to give relief to masses in budget: Minister
12 minutes ago -
Unidentified gunman shot dead Seven laborers in Gwadar
12 minutes ago
-
Eyes of entire world focused on PM's upcoming visit to China: Tarar
22 minutes ago -
May 9 heart-wrenching incident, darkest day in human history: Qaiser Ahmad Sheikh
22 minutes ago -
Interior Minister condemns terrorist incident in Gawdar
1 hour ago -
No soft-pedaling of May 9 incidents; no absolution for orchestrators: PM
3 hours ago -
Property dispute claims life
11 hours ago -
Motorcyclist killed in road mishap
11 hours ago