Capital Value Tax on Real Estate Related Transactions in Pakistan
A Capital value tax at the rate of 2 percent of recorded value has been levied vide Finance Act, 2006. This is applicable in urban areas for residential property exceeding an area of one kanal and in case of commercial properties without any threshold of land area or size of the property. However, where the value of such property is not recorded, the CVT is payable at Rs. 50 per square yard of land area. All transfers falling under the scope of purchase, gift, exchange, surrender, power of attorney and relinquishing the rights have been subjected to the capital value tax. However, transactions between spouses, parents, grand parents, brothers and sisters through gift and inheritance have been excluded from its purview.
Comments on “What is Capital Value Tax in Pakistan?”
Are there any taxes on commodities trading i.e. gold trading
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where we can get the exact rate of CVT as per area wise on open plot please.
who is to pay capital valu tax the seller of a plot who is actually the owner of the said plot . or the buyer who will become after the sale deed is finally executed.syedanwar jamil at gmail.com.plz advise
Please tell in case of DEATH FROM FATHER TO A SON does CVT APPLY??
Isnt it INHERITANCE
Please help me to get the exact rate of CVT as per area wise on flat(Resident), please.
Is capital value tax applicable on purchasing of 6th marla house?
If yes then how many percentage on property value.
Who will pay this tax the owner or tenant?
But has it not been changed as per Finance Act 2013 please confirm n change ur post.
If you are buying a plot in installments, when are you suppose to pay the Capital value tax? In the beginning, or in the end?
Thanks. The information is of great help.
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