FBR to implement real estate rules as per FATF action plan

ISLAMABAD: Following the Financial Action Task Force’s (FATF) decision to extend the deadline for Pakistan to complete its 27-point action plan, the Federal Board of Revenue (FBR) is determined to step up monitoring of real estate, gems and jewellery sectors.

invest with imarat

Islamabad’s emerging city centre

Learn More

Implementation of rules in the aforementioned areas will reportedly take place in a few days in a bid to curb money laundering and terrorism financing.

The recommended rules will be applicable to housing authorities or sub-registrar offices where property exchanges are attested. The property agents will, however, be exempted from these rules.

In order to address the concerns of terror financing parked in the real estate sector, revision of the provinces’ valuation table rates to bring them closer to the market value is also under consideration.

“We have asked the provinces to revise DC rates closer to market value,” said a senior FBR official, who further said that the tax rates would be decreased to counterbalance its tax impact.

For more news and blogs, visit Graana Blog.

Maham Tahir

Recent Posts

Chaaye Khana Unveils First-Ever Rooftop Outlet at Amazon Mall with Panoramic Views

ISLAMABAD, Pakistan – April 23, 2025 – Chaaye Khana, Pakistan's popular cafe renowned for its…

12 hours ago

PM Shehbaz Inaugurates Murree Road Underpass Project

ISLAMABAD: Prime Minister Shehbaz Sharif laid the foundation stone for the Murree Road underpass on…

21 hours ago

Pakistan Emerges as Prime Investment Destination, Say Real Estate Developers at Dubai Property Show

DUBAI: Pakistani real estate developers and representatives showcased a range of commercial and residential investment…

2 days ago

CDA to Transform Park Road Nursery Under Rs652 Million Gardenia Hub Project

ISLAMABAD: Capital Development Authority (CDA) is currently undertaking a major Rs652 million project to upgrade…

6 days ago

Citywide Anti-Encroachment Drive to Begin in Karachi

Karachi – Mayor Barrister Murtaza Wahab has announced the launch of a citywide anti-encroachment operation…

6 days ago

CDA Chairman Orders Revival of 23 Water Fountains with Artistic Lighting

ISLAMABAD: CDA Chairman Muhammad Ali Randhawa has directed the immediate restoration of 23 non-functional water…

7 days ago