Tax filer status is one of the first things to check on any property deal in Pakistan. Market commentary published by Lahore Real Estate describes a flat-rate system for the current budget year, with lower rates for filers than for non-filers.
According to that report, filers pay a lower buyer tax and seller tax than non-filers. Because tax rules change and rates can be amended, please confirm the current figures with the Federal Board of Revenue (FBR) or a qualified tax advisor before you make a decision.
Quick checklist
- Confirm your filer status on the FBR Active Taxpayer List.
- Ask the seller or developer for the current tax calculation in writing.
- Keep receipts for every payment.
Source: Lahore Real Estate
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