FBR suspends new property valuation till Feb 28

ISLAMABAD: The Federal Board of Revenue (FBR) has held in abeyance the recently notified valuation rules to allow registration of the in-process transactions till February 28, 2022, ARY News reported.

The new valuation tables of the immovable properties would be re-notified on March 1, 2022, according to a handout issued by the tax collection body.

Earlier, the board had suspended the new property valuation rates till February 1, 2022.

The FBR issued new valuation tables on December 1 of properties across 40 major cities with a view to bringing them closer to the actual market prices.

Taking cognizance of a number of complaints received from various quarters,FBR has held in abeyance new property valuation till Jan 16, 2022.Instructions have been issued to CC-IRs on the mechanism to be adopted to review property valuation, in consultation with all stakeholders. pic.twitter.com/nHMJnBjtrD

— FBR (@FBRSpokesperson) December 7, 2021