Govt Proposes 5% FED on Real Estate
The federal government plans to introduce a 5% federal excise duty (FED) on new plots, residential, and commercial properties. Finance Minister Muhammad Aurangzeb announced this proposal during his budget speech on Wednesday.
The minister explained that the aim of this increase is to curb speculation and bring more stability to the real estate market.
Additionally, the government is contemplating a gradual increase in the withholding tax rate on the sale and purchase of property based on the investment amount.
