Islamabad: In its budget proposal for fiscal year 2018-19, the Association of Builders and Developers of Pakistan (ABAD) recommends that no source of funding to be asked for purchase of first apartment, reported a news source. This, according to the association, will encourage investment in real estate
ABAD has also proposed that exemption from Withholding Tax (WHT) be raised from PKR 4 million to PKR 8 million. Other suggestions included removal of Regulatory Duty and Additional Regulatory Duty on steel imports and a decrease of WHT on transfer of property from 3% to 1%.
ABAD also recommended that federal and provincial governments should work together to create a single valuation table while slashing the taxes on transfer of property to rational levels.
