MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office (RTO) Multan, under the leadership of Chief Commissioner Inland Revenue (CCIR) Dr. Muhammad Sarmad Qureshi, convened a high-level meeting to review and discuss the implementation of the revised tax rates for domestic and commercial property transactions.
The meeting, held at the RTO premises, was attended by key officials including Commissioner Withholding Zone Muhammad Aslam Jamro, Additional Commissioner Inland Revenue Muhammad Irfan Kareem, Tehsildars, Naib Tehsildars, Assistant Directors of Land Revenue (ADLRs), Sub-Registrars, Land Revenue Officers, and other stakeholders.
Deputy Commissioner Inland Revenue, Muhammad Umair Shafqat, provided a detailed briefing on the recently issued FBR rate list outlining updated tax rates for the sale and purchase of immovable properties. The presentation covered crucial aspects of the revised Withholding Tax (WHT) and Federal Excise Duty (FED) structures to ensure better understanding and compliance.
As part of the awareness initiative, a seminar was organized in the conference room at the RTO Multan for Sub-Registrars, Registrars, and ADLRs from Multan and Dera Ghazi Khan divisions. The seminar was aimed at promoting clarity on tax deductions under Sections 236C and 236K of the Income Tax Ordinance, which govern the collection of advance taxes on the sale and transfer of immovable properties.
Addressing the participants, CCIR Dr. Sarmad Qureshi emphasized the importance of streamlined tax collection processes and enhanced coordination among revenue officers, registrars, and land-related authorities. He highlighted that such initiatives are critical for ensuring transparency and compliance in the real estate sector.
The seminar included a detailed presentation on WHT and FED applicable to immovable properties, shedding light on operational challenges and solutions to improve tax compliance. Participants were urged to familiarize themselves with the updated tax rates and their implications to ensure smooth implementation and adherence to FBR regulations.
This initiative is expected to significantly enhance the understanding of stakeholders regarding property-related tax obligations and encourage FBR’s efforts to increase tax revenue from the real estate sector. Such sessions align with the Board’s commitment to fostering awareness and ensuring compliance with tax laws across all sectors.
