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IMF allows FBR to reduce WHT rates on property purchases by 2pc
ISLAMABAD (92 News) The International Monetary Fund (IMF) has allowed the Federal Board of Revenue (FBR) to reduce the Withholding Tax (WHT) rates on property purchases by 2 per cent.
According to official sources, the decrease in WHT rates on property purchases will be effective from April 2025, while they will remain unchanged on property sellers.
It is to be noted here that the FBR had requested the IMF to lower WHT rates for both sellers and purchasers under Sections 236C and 236K, respectively.
However, the IMF agreed to reduce the WHT rates for purchasers, which top officials termed a major development for the real estate and construction sector.