FBR has increased properties valuation rate between 10 to 30 % approx., in around 20 cities. The Federal Board of Revenue has also included rural areas in the list to standardize with DC rates in FY23.
The revised rates are introduced to collect more % of tax from immovable properties; however, the rates are still lower than the market rates. The FBR revised rates for immovable properties in cities including Attock, D.I.Khan, and Rawalpindi.
The Federal Board of Revenue has earlier revised rates in cities like Islamabad, Gujranwala, Sahiwal, Multan, Mandi Bahauddin, Rahim Yar Khan, Sargodha, Toba Tek Singh, etc. While sharing information, FBR Inland Revenue (Policy) Member Afaq Ahmed Qureshi said that overall valuation rates of immovable properties had been revised in 40 cities.
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