K-P ends tax on sale, purchase of property

0.5% fee charged to register land transactions withdrawn

PESHAWAR:

In a move which the provincial government hopes will help attract people to invest in the local construction sector, the 0.5 per cent fee charged to register land transactions has been withdrawn.

In a notification issued on Wednesday, the Khyber-Pakhtunkhwa (K-P) Revenue Department withdrew the fee imposed on sale and purchase of properties in the province.

The decision appears to be part of a string of measures adopted recently to boost investment in the fledgeling local construction industry.

To attract investors, the provincial government had recently amended the relevant laws to smoothen the process of buying and selling property, obtaining building approvals and completing other necessary procedures.

Published in The Express Tribune, August 6^th, 2020.