As per Lawkidunya, Tax rates on commercial properties in Hyderabad, Pakistan, vary based on factors like property value, location, and taxpayer status. Here’s a breakdown:
– Advance Property Tax or Withholding Tax:
– For filers: 3% to 4% of property value
– For late filers: 6% to 8% of property value
– For non-filers: 10% to 20% of property value
– Federal Excise Duty (FED): 5% on allotment or transfer of commercial property
– Capital Value Tax (CVT): 2% of property value, applicable to the buyer
– Capital Gain Tax (CGT):
– For filers: 15% of net profit from property sale
– For non-filers: 15% to 45% of net profit from property sale
Keep in mind that these rates are subject to change, and it’s essential to consult with a tax professional or relevant authorities for the most up-to-date information.