The federal government has decided to impose a capital value tax on farmhouses and large residential properties in Islamabad.
According to the Finance Bill 2024-25, the new tax measures include:
– A capital value tax of Rs 5 lakh on farmhouses ranging from 2,000 to 4,000 square yards.
– A capital value tax of Rs 10 lakh on farmhouses larger than 4,000 square yards.
– A capital value tax of Rs 10 lakh on residential houses between 1,000 and 2,000 square yards.
– A capital value tax of Rs 15 lakh on residential houses exceeding 2,000 square yards.
These taxes aim to increase government revenue and ensure a fair contribution from owners of larger properties.
Read more: FBR to Set Up 145 District Tax Offices All Over Pakistan
