Karachi: The sale and purchase property procedure in Sindh is to be resumed under the old mechanism, reported a news source. The decision was taken to remove the confusion that existed from the last two months on the taxation system and to ensure revenue collection via property taxes.
According to a senior member of provincial Board of Revenue, due to existing confusion on federal taxes, the government has failed to collect approximately PKR 10 billion in terms of taxes collected at the federal level. This has also hampered the process of properties’ microfilming.
The officer also claimed that after the clarification received by the Federal Board of Revenue, property transactions are now being carried out under the previously defined procedure. The perks extended to the filers and the penalties imposed on the non-filers will, however, will remain intact.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
