Hi,
This post is in reference to post # 84720 by Aldwin:
Where he has consolidated all the current taxes on real estate sale/purchase. I would request respected CMY, Jameel Mughal, Habib sb, Ahmat and other experts to compare the current and previous rate.
In my opinion, ABAD has just focused on CGT and ignored other taxes like WHT and advance tax for seller and all other taxes for purchaser (They also got per sq feet tax on constructed homes :p ) This is because only big fishes are present in ABAD. This is what dealers and small/medium investors like me need to understand and protest against. More tax whether it is on seller or purchaser will reduce the number of transactions in all societies and prices would halt.
Here are the current tax rates:
Buyer (Filer and Non-Filer both)
Stamp duty 3% on dc rate
CVT 2% on dc rate
Buyer (Non-filer)
WHT tax 0.6% on valuation price
Advance tax 4% on valuation price
Buyer (Filer)
WHT tax 0.3% and Advance tax 2% on valuation price
Seller (Non-filer)
WHT 0.6% of valuation price
Advance tax 4% of valuation price
Seller (Filer)
WHT 0.3% of valuation price
Advance tax 2% of valuation price
CGT (Filer)
10% first yr sale
7.5% second yr sale
5% third yr sale
0% after 3 yr sale
CGT (Non-filer): 0%
Previous rates on real estate transactions were:
Buyer (Filer and Non-Filer both)
Stamp duty 3% on dc rate
CVT 2% on dc rate
Buyer (Non-filer)
WHT tax 2% on dc rates
Advance tax 2% on dc value
Buyer (Filer)
WHT tax 0.5% on dc rates
Advance tax 1% on dc value
Seller (Non-filer)
WHT 1% of dc value
Advance tax 1 % of dc value
Seller (Filer)
WHT 0.5% of dc value
Advance tax 0.5% of dc value
CGT (Filer)
10% of dc value
5% of dc value
0% after 2 yr sale
CGT (Non-filer): 0%
Please highlight if I put some wrong figure.
Lets discuss!!
