Islamabad: Federal Revenue Board (FBR) has made registration of real estate agents with mandatory FBR.
A statement issued by the FBT states that registration of real estate agents with FBR is mandatory and states that both public and private development authorities will be able to do business with unregistered agents when transferring or registering property not moving. Will not
According to the FBR, violations will be prosecuted under money laundering and terror financing law. According to the declaration, this condition will apply to all housing authorities, the company’s housing society while it will also apply to development schemes for residential or commercial purposes and also subject to construction, sales and property purchases or transfer of property rights.
According to FBR, real estate agents must obtain a temporary registration certificate also register as a non-financial and professional business.
