Business News

FTO Directs FBR to Rectify Property Valuation Discrepancies

FTO Directs FBR to Rectify Property Valuation Discrepancies

Islamabad: The Federal Tax Ombudsman (FTO) has issued a directive to the Federal Board of Revenue (FBR), calling for the immediate activation of the Directorate General of Immovable Property (DGIP).

The FTO’s directive comes after a systematic investigation that exposed several inconsistencies, discrepancies, and anomalies within the FBR’s property valuation procedures for immovable properties. Activating the DGIP is a crucial step in

rectifying these problems.

This activation will not only address these issues but will also eliminate the highlighted discrepancies and anomalies in the FBR’s property valuation tables. These valuation tables are issued by the FBR’s Inland Revenue (Policy) Wing.

This move will enhance transparency and equity in property transactions nationwide. It will also bolster the real estate sector. Furthermore, it reflects the FTO’s commitment to resolving systemic flaws and refining the property valuation process to facilitate the public and stakeholders. For the latest Real Estate News and Blogs, visit Realtorspk blogs.

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