New budget likely to see major reduction in taxes on property purchases and sales
Published 1 hour ago | By Pak24tv
The federal government has prepared a plan to significantly reduce taxes on the purchase and sale of property to promote the real estate sector in the upcoming budget for the 2026-27 fiscal year.
According to sources, it is proposed to reduce the current tax rate on the purchase of immovable property for filers from 1.5 percent to just 0.25 percent.
Similarly, a recommendation has been made to reduce the 4.5 percent tax on the sale of property to 1.5 percent.
The government is in talks with the International Monetary Fund (IMF) for this important policy change, where reservations and opposition are being expressed on these proposals from the IMF.
Officials say that the reduction in taxes will end the recession in the property market, accelerate construction activities, create new investment opportunities and increase the overall national economy and employment.
