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What is the New Tax on Property in Pakistan as Per Law

The government of Pakistan in the Budget 2022-23 tax year has announced an increase in the withholding tax on property, which is paid by the purchaser of a property before the transfer of ownership in Pakistan. The withholding tax has been revised to 2% for filers and 5% for non-filers, up from 1% and 2% for filers and non-filers, respectively.

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