Federal Government Imposes Capital Value Tax on Islamabad Farmhouses and Big Houses

The federal government has decided to impose a capital value tax on farmhouses and large residential houses in Islamabad, Headline PK reported.

According to the Finance Bill 2024-25, a capital value tax of Rs5 lakh will be levied on farmhouses ranging from 2,000 to 4,000 square yards. Farmhouses exceeding 4,000 square yards will be taxed Rs10 lakh.

Additionally, residential houses between 1,000 and 2,000 square yards will incur a tax of Rs10 lakh. For houses larger than 2,000 square yards, the tax will be Rs15 lakh, as stipulated by the Finance Bill.