Peshawar: The Khyber Pakhtunkhwa Property Retailers Association (KPPRA) has called a statewide strike for Friday, December 10 to protest the Federal Board of Revenue’s (FBR) rise in property tax on both residential and commercial plots, as well as the tax on the sale and purchase of the property.
Read More: Property tax increased in Khyber Pakhtunkhwa
DHA and Peshawar Development Authority (PDA) retailers have also declared their participation in the protest. Officials of the Peshawar Press Club, speaking at a joint press conference on Tuesday, called the hike in property tax a “cruel” move and asked that the government reverse the decision immediately.
Meanwhile, the FBR on Tuesday put the newly announced valuation guidelines on hold, allowing in-progress transactions to be registered until January 16, 2022.
According to a handout issued by the tax department on Tuesday, the FBR has issued detailed instructions through an Office Memorandum (OM) on the procedure to be adopted to review the anomalies in the property rates and rations, taking cognizance of a number of complaints received from various stakeholders across the country, including real estate agents and town developers, about an extraordinary rise in property rates resulting from the recently notified property valuation.