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Islamabad, The Federal Board of Revenue (FBR) is preparing to roll out updated property values starting July 1, following a hiatus of two years since the last valuation in March 2022,
According to Zameen.Com, The initiative aims to integrate new housing societies into the tax net. The FBR has commenced the process of revising property valuation tables nationwide in collaboration with provincial authorities. Initially proposed increases were put on hold until September 2023, as per the agreement between the FBR and the real estate sector.
Special committees were established in each city to ascertain new values in consultation with real estate associations. Subsequently, developers and builders collaborated with regional tax offices to finalize these values, which were then submitted to the FBR.
The post FBR Set to Revise Property Values Effective July 1 appeared first on Pakistan Business News.