In the latest yearly budget of Pakistan, the Government of Pakistan has imposed a 5% FED tax on plots selling and purchasing to ensure stability in the real estate market.
The Government of Pakistan’s financial yearly budget was announced on June 12th. The budget is already under a lot of criticism by the opposition and for the inflation of major taxes, by the salaried persons too.
Muhammad Aurangzeb, the federal finance minister, has now also announced the FED tax. The goal of this move is to reduce speculative activity and stabilize the housing market.
The FED tax will apply to both residential and commercial sales and purchases. This will secure the real estate sector with transparency as a by-product of it.
The Government of Pakistan is also considering the increase in property withholding tax for the buying and selling of plots that cannot be moved depending upon the amount invested in it.
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