The Federal Board of Revenue (FBR) has directed all Chief Commissioners of Regional Tax Offices to submit revised rates through an official communication.
According to sources, the government is preparing to take strict action against fraud related to property files and plots across the country. In this regard, the Prime Minister has ordered the formation of a high-level committee. Media reports state that the federal government has constituted a high-level committee to conduct a comprehensive review of the legal status of the buying and selling of property files, plots, villas, and apartments, in view of growing concerns over fraud, tax evasion, and investor protection. The objective of this initiative is to promote transparency in the real estate sector.
According to sources and an official notification, the committee will be headed by the Minister for Law and Justice. Its members will include the Chairman FBR, senior Members of the Board of Revenue from all provinces, a Grade 21 or above representative of NAB, the Chief Commissioner of the Islamabad Capital Territory, and a representative of the Association of Builders and Developers (ABAD). The FBR will provide secretarial support to the committee.
The committee has been tasked with reviewing the operational mechanism and legal status of the file system in real estate, as well as analyzing its impact on government revenue at both the federal and provincial levels. In addition, the committee will examine the rights of file holders and buyers, particularly issues such as alleged fraud by developers, issuance of fake or duplicate files, and repeated sale of the same property.
Under its terms of reference (ToRs), the committee will also recommend necessary amendments to relevant laws to bring the buying and selling of property files under a clear and formal legal framework. The aim is to ensure proper tax collection and provide legal protection to investors. The committee will also have the authority to review any other matters related to its mandate.
The committee has been directed to submit its report to the government within one month. According to media reports, the committee was formed following the disclosure of a major housing scandal, in which private housing schemes in Islamabad and Rawalpindi allegedly sold more than 90,000 plots without owning land and collected hundreds of billions of rupees.
