ISLAMABAD: The Federal Board of Revenue is likely to announce an amnesty scheme for real estate sector to bring the undocumented money invested in immovable properties into tax net.
Sources said that the scheme would be for the investment made in immovable properties purchased before July 01, 2016. “The scheme may be called as Property Investment Regularise Scheme,” they said, adding that under the scheme, the individuals would be able to declare the amount more than the collector value for the purchase of immovable property.
The declaration will be made as per the valuation that will be agreed between the government and stakeholders at a meeting, being held on today (Wednesday).
