The federal budget for the fiscal year 2024-25 has proposed an increase in the tax rate for filers and non-filers on the sale and purchase of property.
According to the budget document, it is proposed to raise the tax on capital gains from property transactions in the next financial year. Filers will face a 15 percent tax on property transactions, while non-filers will be taxed up to 45 percent.
Budget 2024-25: Government Promotes Green Energy with Discounts on Solar Panels
Separate rates for filers, non-filers, and late filers on immovable properties have also been proposed.
Presenting the budget in the National Assembly, Federal Finance Minister Muhammad Aurangzeb stated that this initiative aims to document the economy and curb speculation in the housing sector. He added that this move will also ensure proper accommodation for people.
inDrive, a global mobility and urban services platform, has joined hands with Essa Labs to…
tapmad Entertainment has cemented its position as a pioneer in Pakistan’s digital entertainment space, not…
Airblue, one of the country’s leading private airlines, has announced a 14% discount on selected…
The Pakistan eCommerce Association (PEA) has urged the government to reduce the tax burden on…
From highlighting the need for affordable smartphones and universal internet to pushing for a cashless,…
Kaspersky research findings show that 42% of children surveyed from the Middle East, Turkiye and…
This website uses cookies.
