Tax The Rich: Government to impose tax on farmhouses in Islamabad
Pakistan has about 1000 farmhouses at the moment.
According to official sources, the government of Pakistan has decided to impose a tax on big farmhouses in Islamabad.
The decision will be imposed in the next fiscal year (FY21). At the moment, Islamabad has over a thousand farmhouses, most of which are owned by businessmen, media anchors, politicians, and retired security officers.
The owner of these farmhouses was only paying property tax before. An additional tax could also be imposed on sectors such as 1-8, F10, F11, F6, F7, and E7.
The government is also considering increasing the wealth tax rate up to 5pc on all, keeping in mind the current economic situation.
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