ISLAMABAD: All property transactions including buying and selling, worth Rs2 million or above are to be reported, as per the directive issued by the Federal Board of Revenue (FBR) to comply with Finance Action Task Force (FATF).
Real estate builders, developers and agents are to file a currency transaction report (CTR) on any purchase worth Rs2 million or above. However, any transaction through banks for this purpose is not required to be reported, it was further clarified.
These directives are aimed to fulfil the conditions of the FATF.
For news and blogs, visit Graana.com.
Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…
Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…
Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…
Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…
Model Town, located in the heart of Gujranwala, is one of the city’s most prestigious…
ISLAMABAD, Pakistan— In a major move to address the longstanding grievances of overseas Pakistanis, the…