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FBR will determine value of property,

(102786)
   Abdullah®
Wednesday, June 15, 2016 05:27 AM 
Reply: >
Sad news for investors :(
http://e.dunya.com.pk/detail.php?date=&edition=LHR&id=
Jameel Mughal® replied on Wednesday, June 15, 2016 03:35 PM 

This news Look out of my mind, as for Last 10 years I am paying dues of property on DC rate, which is already been determined by Govt and there are 1000s sectors with different Dc rates and DC Rates are revised every one or 2 years. There is no inch in Lahore where DC rate is not declared by Govt of Punjab,
However I never dealt out of Metropolitan areas I dont know what was Mechanism there.
If someone have more knowledge of Taxation can he explain this news.
Arif M® replied on Wednesday, June 15, 2016 04:24 PM 

Jameel sb, this news indicate that provincial govts will no longer have control on this and federal govt wants FBR to assess the values. I am not sure how practical it will be after 18th amendment.
Ahmad786® replied on Thursday, June 16, 2016 05:51 AM 

No law can enforce me to sell things cheaply :)
Arif M® replied on Thursday, June 16, 2016 11:30 PM 

But we should accept that it can change Market dynamics.
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