Peshawar: In cities across Khyber Pakhtunkhwa (KP), including the provincial capital Peshawar, Dera Ismail Khan, Mardan, Abbottabad, Mansehra, and others, the Federal Board of Revenue (FBR) has raised property taxes as well as taxes on the sale and purchase of property.
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With the implementation of new taxes, the rate of tax on a residential property in Peshawar Saddar has increased by Rs500,000 per Marla, and the rate of tax on a commercial property has increased by Rs1.2 million per Marla.
Residential property taxes in Ander Shahr Bazaar have been raised from Rs1.36 million per Marla to Rs2.84, while commercial property taxes have been raised from Rs5.61 million to Rs10 million per Marla.
Similarly, the tax on residential property in Budhni, on Peshawar’s outskirts, has been raised from Rs44,000 to Rs97, 000 per Marla, while the tax on commercial property has been raised to Rs165,000 per Marla.
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Property taxes have been raised by 100% in 38 major cities around the country, according to finance department sources; nevertheless, the FBR has added more cities to the valuation list, bringing the total number of cities to 40.
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