Miftah Ismail, Finance Minister, guarantees tax relief on real estate properties in terms of capital gain tax for Non-Resident Pakistanis (NRPs). The federal Minister directed the Federal Board of Revenue (FBR) to implement a separate system to facilitate Non-Filer NRPS to restore business activities in Pakistan.
Mr. Miftah Ismail, meet with the DHA Estate Agents Association (EAA) delegation in Islamabad. The delegation emphasized considering new measures to help the country’s real estate agents increase their role in the revival of the economy.
The Federal Minister assured them that the incumbent government would help them with tax relief and regularization in the real estate sector.
It is pertinent to note here that the government has previously suggested tax regulations for the real estate sector by changing CGT – Capital Gains Tax and Income Tax on properties valued at 25 million or above.