Tax laws bill may be part of FY26 Finance Bill: Non-filers to face curbs on economic deals

Tax laws bill may be part of FY26 Finance Bill: Non-filers to face curbs on economic deals

ISLAMABAD: The government is likely to make Tax Laws (Amendment) Bill, 2024 part of the next Finance Bill (2025-26) to impose restriction on economic transactions of non-filers, it is learnt. The Federal Board of Revenue (FBR) has yet not demonstrated necessary technological changes in its online systems for enforcement of new Section 114C (restriction on economic transactions of non-filers) of Tax Laws (Amendment) Bill, 2024. FBR Chairman Rashi…

Govt Collects Rs. 169 Billion in Property Tax in 9 Months of FY 2025

FBR collected Rs. 169 billion in withholding tax (WHT) from property transactions during the first nine months of the fiscal year 2024-25. This amount is 24% higher compared to the Rs. 136 billion collected during the same period last year, even though the number of property transactions actually dropped by 15%. The main reason for this increase in tax collection is the revision of tax rates on property dealings. Now, when a property is sold, th…

Amid Drop In Transactions, Tax Collection From Property Deals Rises - Pakistan Live News

An employee counts Pakistani rupee notes at a bank in Peshawar, Pakistan August 22, 2023. — Reuters FBR envisages to increase tax amount on both sale, purchase of property by 50%. Property sector pays Rs169 billion in shape of WHT in first nine months of FY24-25. Tax amount goes up by almost 24% in first nine months of FY24-25. ISLAMABAD: During the first nine months (July-March) of the current fiscal year, the Federal Board of Revenue (FBR) co…