Property buyers to benefit from tax breaks

ISLAMABAD:

The government has proposed significant relief for the real estate and construction sectors in the federal budget for 2025-26, including cut in the withholding tax rate on property purchases, and abolition of the Federal Excise Duty (FED) on transfer of commercial properties, plots, and houses.

Finance Minister Muhammad Aurangzeb unveiled the budget in the National Assembly on Tuesday evening. He announced a reduction in the stamp duty on property purchases in Islamabad. He also announced tax credit facility in order to promote mortgage financing.