An additional tax was levied on the purchase of property

Web Desk: Federal Board of Revenue (FBR) has imposed an additional tax on the purchase of property.
According to the notification issued by FBR, excise duty has been levied on developers and builders on property purchase.
A duty of 3% was imposed on the purchase of income tax paying land and houses, while a duty of five percent was imposed on the purchase of land and houses with delayed payment of income tax.
Seven percent of the duty was imposed on the purchase of land and houses by non-filers.
The notification says that all developers and builders will be required to pay this duty at the time of purchase.
FBR has also issued specific forms for payment of property rights and all developers and builders will submit monthly statements to the concerned commissioner of FBR.
The tax of 3% was imposed on the purchase of income tax paying land and houses, while the duty of 5% was imposed on the purchase of income tax who pay for land and houses.
FBR has issued notification to levy additional tax on property purchase.