ISLAMABAD: The Federal Board of Revenue (FBR) has put a hold on new property valuations until January 16, 2022, in order to investigate inconsistencies that have been highlighted by key stakeholders.
The news was issued on the country’s official Twitter account by the country’s supreme tax collection body.
The FBR has taken notice of a number of complaints received from all over the country from various stakeholders including about extraordinary rise in property rates resulting from the recently notified property valuation.
It has therefore issued detailed instructions on Tuesday through an Office Memorandum (OM) on the procedure to be adopted to review anomalies in the property rates and rationalize the same.
On December 1, the FBR released revised valuation tables for properties in 40 major cities, with the goal of bringing them closer to market pricing.
