Property sellers among filers get major withholding tax relief

Islamabad: The government has reduced the withholding tax on property sales for registered tax filers from 5.5% to 2.75%, providing additional relief to support the real estate sector and promote documented economic activity. Officials stated that the measure will lower the financial burden on sellers, encourage more transactions, and strengthen investor confidence. Under the new rate, filers will pay significantly less tax when selling properties, facilitating smoother market operations. Experts believe this step will boost property market activity, attract new investments, and enhance financial opportunities for property owners and investors, while positively impacting construction and housing sectors.