The Chairman of the Federal Revenue Commission (FBR), Dr. Ashfaq Ahmed, stated that they will review the valuation of the property.
The Standing Committee on Finance of the Senate held a meeting under the auspices of Senator Talha Mahmood. FBR Chairman Dr. Ashfaq Ahmed introduced real estate valuation at the meeting.
The FBR chairman stated that taxes should be levied on current prices in the real estate market. There is no appraisal table in the country, and there is no agreement on one by one among the provinces.
Dr. Ashfaq Ahmed further stated that FBR was given the responsibility of property valuation. In the PML-N era, property valuation was fixed and tax pardons were granted to property prices.
The FBR chairman stated that the FBR has determined the best price for the property. Maybe the price of a certain place is more or less, and these prices will be reviewed.
