Karachi: Association of Builders and Developers of Pakistan Acting Chairman Arif Yousaf Jeevan has asked the Federal Board of Revenue to give clear instructions regarding valuation tables and the recently imposed property taxes, reports a news source.
According to the details, Jeeva said confusion persists regarding how taxes will be calculated on property sale and purchase as clear instructions have not been given by the FBR on property registration, transfer and sale deeds. He demanded that the government issue clear instructions on property valuation and related taxes.
Per the news report, Jeeva requested the government to arrange for education of registration officers regarding property valuation and the new taxation system so that real estate builders and developers can initiate their projects.
On behalf of Abad, he also showed willingness to collaborate with the FBR officials for arranging workshops and seminars to educate the registration officers and thus expedite the property registration process.
