- October 7, 2022
- Posted by: Shahrukh Abbas
- Category: News
The advance tax is not applicable to Pakistanis who live outside of Pakistan when they buy real estate, according to the FBR.
Pakistanis living abroad can now make purchases without being concerned about advancements. The Federal Board of Revenue (FBR) recently declared that the advance tax on the purchase of real estate for overseas Pakistanis is exempt. This, however, will encourage foreign investors.
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The advance tax is exempt under Section 7E of the Tax Ordinance 2021. According to sources, the FBR’s tax exemptions were primarily designed to encourage investment.
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