Advertisement
News

Federal Government Imposes Levy on Construction and Real Estate Profits

Advertisement

The federal government has introduced a levy on taxable profits for individuals and businesses involved in the construction and sale of residential and commercial buildings.

According to the amended Finance Bill, this tax will also apply to the development and sale of plots.

A taxable profit rate of 10% will be imposed on gross receipts from the construction and sale of buildings, 15% on the development and sale of plots, and 12% on mixed business activities.

The tax applies only to income from these specific activities, not to other sources or heads of income.

Advertisement
News Desk

Recent Posts

Karachi Traders Report Disappointing 2025 Eid Sales

Despite crowded markets and high expectations, Karachi’s traders have expressed disappointment over sluggish sales during…

15 hours ago

PM Announces Reduced Electricity Tariff: Here’s What You’ll Pay Now

Prime Minister Shehbaz Sharif has announced a reduction in electricity tariffs, lowering the national average…

15 hours ago

Farhan Saeed and Kinza Hashmi Star in Highly Anticipated Drama Shirin Farhad

The much-anticipated drama Shirin Farhad has officially hit the screens, and fans can’t stop talking…

15 hours ago

PepsiCo Pakistan Continues “Filling Hearts” Initiative, Distributing 750,000+ Meals to Communities

PepsiCo Pakistan is advancing its food security efforts this Ramadan through the "Filling Hearts" initiative,…

15 hours ago

BYD Reports Record-Breaking Revenue of RMB 777.1 billion in 2024

BYD released its 2024 financial report, with key indicators reaching record highs! The company achieved…

1 week ago

Eid in Dubai: All You Need to Know

Eid in Dubai is a time of joy, celebration, and togetherness, bringing a unique blend…

1 week ago