{"id":36671,"date":"2024-05-18T00:12:47","date_gmt":"2024-05-17T19:12:47","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=36671"},"modified":"2024-05-18T00:12:47","modified_gmt":"2024-05-17T19:12:47","slug":"budget-2024-25-non-filers-to-face-additional-withholding-tax-on-property-transactions","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/budget-2024-25-non-filers-to-face-additional-withholding-tax-on-property-transactions\/","title":{"rendered":"Budget 2024-25: Non-Filers to face additional withholding tax on Property transactions"},"content":{"rendered":"

ISLAMABAD: The Federal Board of Revenue (FBR) is likely to receive more than Rs100 billion in the next fiscal year after being approved by legislation.<\/p>\n

It is aimed at discouraging non-compliance and increasing tax revenues from the real estate sector.<\/p>\n

As per the reports, the government of Pakistan government is tightening the noose around non-filers to increase revenue and now the government is likely to increase advance tax on the purchase of immovable properties by non-filers.<\/p>\n

According to the new understanding between International Monetary Fund (IMF) and the FBR, the withholding tax will be increased on the purchase of property by non-filers.<\/p>\n

Pakistan is seeking new loans from the IMF while the lender is pushing to touch unused sections to widen the tax base.<\/p>\n

Read More:\u00a0FBR, telecom operators fail to reach consensus over SIM blocking of non-filers<\/a><\/strong><\/em><\/p>\n

The government promised to implement further structural reforms, including blocking mobile SIM cards of non-filers.<\/p>\n

So far, tax authorities have imposed 3% tax on filers and 10.5% on non-filers, which will generate revenue of Rs80 billion in the current financial year. The IMF is now recommending to the government to raise the advance tax rate for non-filers.<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: The Federal Board of Revenue (FBR) is likely to receive more than Rs100 billion in the next fiscal year after being approved by legislation. It is aimed at discouraging non-compliance and increasing tax revenues from the real estate sector. As per the reports, the government of Pakistan government is tightening the noose around non-filers […]<\/p>\n","protected":false},"author":8,"featured_media":36672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1247,16180,131,160,138,17105],"class_list":["post-36671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-international-monetary-fund","tag-budget-2024-25","tag-fbr","tag-imf","tag-pakistan","tag-tax-on-property-transactions"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/36671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=36671"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/36671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/36672"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=36671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=36671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=36671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}