FBR Launch Online Fee & Exemption Service for 1% Property Tax

FBR to Launch Online Fee & Exemption Service for 1% Property Tax

FBR Launch Online Fee & Exemption Service for 1% Property Tax. This new service will allow taxpayers to apply for exemptions or pay the tax online, without having to visit a tax office.

The 1% property tax is a tax that is levied on the transfer of immovable property in Pakistan. The tax is payable by the seller of the property, and the rate is 1% of the fair market value of the property.

The online fee and exemption service will be available through the FBR’s IRIS (Integrated Revenue Information System) portal. To use the service, taxpayers will need to create an account on the portal and provide some basic information about themselves and the property that is being transferred.

Once the account is created, taxpayers will be able to apply for an exemption from the tax or pay the tax online. If the taxpayer is applying for an exemption, they will need to provide supporting documentation, such as a copy of the property’s title deed.

The online fee and exemption service is expected to be launched in the next few months. The FBR has said that the service will make it easier for taxpayers to comply with the 1% property tax requirements.

Benefits of the Online Fee and Exemption Service

There are several benefits to the online fee and exemption service. First, it will make it easier for taxpayers to comply with the 1% property tax requirements. In the past, taxpayers had to visit a tax office to apply for an exemption or pay the tax. This could be a time-consuming and inconvenient process. With the online service, taxpayers can apply for an exemption or pay the tax from the comfort of their own homes.

Second, the online service will be more efficient. The FBR will be able to process applications more quickly and easily through the online system. This will help to reduce the backlog of applications that the FBR currently faces.

Third, the online service will be more transparent. Taxpayers will be able to track the status of their applications through the online system. This will give them peace of mind knowing that their applications are being processed in a timely manner.

How to Use the Online Fee and Exemption Service

To use the online fee and exemption service, taxpayers will need to follow these steps:

  1. Create an account on FBR’s IRIS portal.
  2. Provide some basic information about themselves and the property that is being transferred.
  3. If the taxpayer is applying for an exemption, they will need to provide supporting documentation.
  4. Submit the application.

The FBR will review the application and notify the taxpayer of their decision. If the application is approved, the taxpayer will be able to pay the tax online.

Conclusion

The FBR to Launch Online Fee & Exemption Service in Pakistan Officially. The service will make it easier for taxpayers to comply with the 1% property tax requirements, and it will be more efficient and transparent than the current system. The service is expected to be launched in the next few months, and taxpayers are encouraged to use it when it becomes available.

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