FBR to increase value of immoveable properties
The Federal Board of Revenue (FBR) has announced increasing the value of the immovable properties in all major centres by the end of this month.
The Chief Commissioners Regional Taxpayers Offices (RTOs) have been notified to update all valuation tables after examining current rates. Moreover, the RTOs have also been tasked to specify areas – not covered or point out anomalies under the notification issued by the FBR.
Apart from bringing the values at par with the market rates, the move will increase tax collection, enhancing the revenue collection of the authority from sale/purchase transactions.
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