KARACHI – The Punjab government is adjusting tax rates, introducing new taxes, closing loopholes, and improving tax collection mechanisms. As part of these efforts, the government is revising stamp duty charges.
Changes are being made to property taxes for urban immovable property and stamp duty taxes on property transactions in Punjab.
The Board of Revenue Punjab has recommended increasing stamp duties by 2 to 10 times to generate an annual revenue of Rs4.21 billion.
The proposed changes include raising the stamp duty for affidavits from Rs100 to Rs300 and for the sale of immovable property from Rs1,200 to Rs3,000. Additionally, the stamp duty for agreements up to Rs500,000 may increase from Rs1,200 to Rs3,000.
Stamp Duty Charges 2024
| Stamp Duty | Current Rate | Proposed Rate |
|---|---|---|
| Affidavit | Rs100 | Rs300 |
| Sale of Immovable Property | Rs1,200 | Rs3,000 |
| Agreements up to Rs500,000 | Rs1,200 | Rs300 |
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