Tax reduced for Pakistanis want to buy up to 10 marla houses: Tarar

ISLAMABAD – Federal Information Minister Attaullah Tarar on Wednesday revealed that tax has been reduced for Pakistani citizens who wish to buy houses of five or ten marlas. He stated this while addressing a press conference along with alongside State Minister for Finance Bilal Azhar Kayani. He described the budget for next fiscal year 2026-27 as relief-oriented. The minister added that the federal government has disbursed Rs90 billion under the Prime Minister’s Apna Ghar scheme. Attaullah Tarar has said that Pakistan was once close to an economic default, describing the country’s macroeconomic indicators at that time as being at their lowest level. He made the remarks while reflecting on the political and economic situation during that period. Tarar stated that in this difficult period, the leadership of the Pakistan Muslim League-Nawaz (PML-N) stepped forward and worked toward stabilising the national economy, aligning their efforts with what he described as the vision of Nawaz Sharif. He further recalled that when Shehbaz Sharif assumed the role of prime minister, the government continued to face multiple challenges as it attempted to manage the broader situation. Furthermore, the Budget 2026-27 brings major relief to the real estate sector by eliminating the tax on deemed income (Section 7E) and drastically slashing upfront transaction taxes. It proposed reduction in advance tax on sale and purchase of immovable property: Advance tax rates under sections 236C (4.5 to 5.5 percent) and 236K (1.5 to 2.5 percent) have been reduced and converted into lower flat rates of 2.75% and 1.5% to encourage documentation and facilitate transactions in the real estate sector.