Islamabad: The government has decided to impose tax on the property sector in the upcoming budget for the year 2023 and 2024 to meet the conditions of the International Monetary Fund (IMF). A proposal to levy a tax on file transactions in the property sector is also under consideration. Agents dealing with plots of housing societies will be registered with the FBR. According to sources, the tax will also be levied on the transactions of files on registered property agents. According to the sources, the tax rate has been doubled for non-filers who buy and sell plots in the FBR budget. At present, 2% withholding tax and 2% gain tax is imposed on the purchase and sale of plots for filers, 7% withholding tax and 4% gain tax is imposed on non-filers. In the budget, it is also proposed to increase the tax for filers and non-filers on the purchase and sale of plots. Online
