FBR examines proposals for revising downward immovable property valuation tables
ISLAMABAD: Federal Board of Revenue (FBR) is examining the proposals of revising downward the valuation tables of immovable properties for industrial land, sources said on Saturday.
The sources in FBR said that representations had been made from the industry that the valuation of industrial land was very high. The FBR issued valuation table of immovable properties for commercial and residential open and constructed land, which was implemented from July 31, 2016.
However, recently the business community voiced agianst the tables saying that the rates mentioned by the FBR was not viable.
FBR sources said that the issue would be discussed with Finance Minister Senator Mohammad Ishaq Dar and Special Assistant to Prime Minister on Revenue Humayun Akhtar Khan. The sources said that after approval from the ministry and the SA to Prime Minister the FBR would able to issue revised tables.