Overseas Pakistanis get real estate tax relief under new FBR initiative
27-12-2024
Karachi: In a landmark move to encourage foreign investment in Pakistan’s real estate sector, the Federal Board of Revenue (FBR) has announced a tax relief initiative for overseas Pakistanis. Under this program, non-resident Pakistanis holding Pakistan Origin Cards (POC) or National ID Cards for Overseas Pakistanis (NICOP) are now exempt from higher tax rates under sections 236C and 236K of the Income Tax Ordinance, 2001, even if they are not listed on the Active Taxpayers List (ATL).