The Federal Governments is likely to impose a Capital Value Tax on the farmhouses and big houses located in Islamabad.
According to the latest updates of Finance bill, the Federal Government has imposed a tax of up to Rs. 1.5 million on residential plot and up to Rs.1 million on farmhouses situated in the Capital.
Residential Houses:
Fixed rates starts from Rs. 1,000,000 for area between 1000-2000 square yards, whereas Rs. 1,500,000 is fixed for the area exceeding 2000 square yards.
Farmhouses:
Fixed rate starts from Rs. 5,00,000 on area between 2000-4000 square yards and Rs. 1000,000 for exceeding 4000 square yards.
Other Assets:
 Rates as imposed by the Federal Government, capped at 5 percent of the asset’s value.
