Thursday, 28 March 2024
Trending
FBR engages state bank experts to revalue rates of property valuation
UPDATES

FBR Engaged Experts of SBP to bring FBR property value rates near market price

The FBR has decided to engage top property valuation experts of State Bank of Pakistan (SBP) for making consultations with stakeholders concerned and recommend changes in recently notified valuation rates of immovable property rates in 40 cities of the country.

The recently notified property valuation by FBR was finalised with due diligence and through a consultative process by the field formations. This upward revision of property across the country was aimed at bringing the property value closer to the market price, in line with the global best practices. This rigorous exercise has been reasonably good. However, FBR has received a number of complaints from different quarters wherein property valuation has been reported to be beyond the market price.

Taking cognizance of this issue and addressing the genuine grievances, FBR has decided to engage top property valuation experts of the SBP who will hold meaningful consultations with the key stakeholders including real estate agents and town developers. This consultative process will review such cases individually and thereby make necessary recommendations to remove distortions if any and bring property value near market price.

See also  Today Iris FBR is going to update it's System

Press Release of FBR regarding engagement of State Bank experts to review FBR rates of property valuation

The recently notified property valuation by FBR was finalized with due diligence and through a consultative process by the Field Formations. This upward revision of property across the country was aimed at bringing the property value closer to the market price, in line with the global best practices. This rigorous exercise has been reasonably good.  However, FBR has received a number of complaints from different quarters wherein property valuation has been reported to be beyond the market price.

Taking cognizance of this issue and address the genuine grievances, FBR has decided to engage top property valuation experts of the State Bank of Pakistan who will hold meaningful consultations with the key stakeholders including real estate agents and town developers. This consultative process will review such cases individually and thereby make necessary recommendations to remove distortions if any and bring property value near market price.

tax accounting services top tax consultants lahore pakistan
Ads:
Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: