The real estate sector of Pakistan was the most overburdened and overtaxed, but with the latest reforms in sight, there is a sigh of relief. The government has reduced withholding taxes on property transactions, abolished the Federal Excise Duty (FED) on the transfer of plots, houses, and commercial properties, and introduced incentives for low-cost housing...
Tag: Karachi property market
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Pakistan to End ‘File System’ in Real Estate Under New Reforms
Pakistan is set to introduce sweeping reforms in its real estate sector, with the government preparing to abolish the long-criticised “file system” within the next two months, according to Lieutenant General (Retd) Nazir Ahmed. Speaking informally to journalists, the chairman of the National Accountability Bureau (NAB) revealed that the proposed real estate reforms will be...