Is the new luxury farm houses taxes, introduced in the 2020 budget also applicable on naval farms (islamabad) ?
In the final budget/finance bill that was passed on Monday, they removed the proposal for imposition of luxury tax in Islamabad. So you don’t need to worry about it.
At least that’s what I had heard yesterday. But today I read somewhere that it has been passed. So can’t be sure anymore. We will know when they issue the notifications.
Yes, it is passed but the concern is if it will be applicable on agro farms ? my understanding Naval farms are agro farms.