Good News for Property Buyers Govt Scraps 3% Federal Excise Duty on Property Sale in Pakistan

Good news for Pakistan’s real estate market! According to reliable reports, the government has decided to remove the Federal Excise Duty (FED) on property that was introduced in the recent budget. This decision, once officially implemented, is expected to boost the real estate market, which has been facing tough times lately.

FED Reportedly Abolished From Real Estate Sector

Back in 2005, the government of Pakistan introduced the Federal Excise Duty (FED) as part of the Federal
Excise Act regulates and collect taxes from certain sectors. At first, it only applied to businesses like tobacco companies and importers. Over time, the government started applying it to more areas, and eventually, the real estate sector was included too. Now, in the 2024-25 budget, they’ve added a 3% FED on property sales. As a result, property prices have dropped, and buyer-seller activity has slowed down significantly.

Background of FED in the Property Sector

Now, with a reliable source that the government of Pakistan has decided to remove the 3% Federal Excise Duty tax, this news will bring a positive change in the real estate sector. According to inside sources, the finance minister has already sent a summary recommending the abolition of this tax. The final decision is expected to be officially announced very soon, and once it’s implemented, it should bring relief and optimism to the market.

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Benefits of Reducing 3% FED on the Real Estate Sector

• Increased investment from both local and overseas Pakistanis.
• This 3% FED relief is expected to boost the real estate sector.
• 3% FED reportedly abolished from the real estate sector, which will increase transactions in the real estate sector.

Conclusion

If you are interested in more updated information about the real estate sector. Whether you are planning to invest in real estate or sell a property, contact CDB Properties today.

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