Property Tax Obligation

Property tax is a vital source of revenue for the Pakistani government, covering various aspects of property ownership, sales, and purchases. The Advance Property Tax, ranging from 3% to 20% of a property’s value, is a prepaid tax imposed on property transactions, with rates varying based on the taxpayer’s status. In addition, Capital Gains Tax is applied to profits from asset sales, while Stamp Duty and Federal Excise Duty are collected on property registrations and transactions.

Property owners must also file annual tax returns and declare their property-related income and expenses. To comply with tax regulations, property owners should generate a Payment Slip ID and ensure timely payments to avoid penalties. Understanding these tax obligations is essential to prevent legal and financial repercussions.



SHOAIB ASSA, Kolowah. MCB Islamic inaugurates its new branch in Multan Tags: property tax obligation.