NA Body Discussed Tax Imposition And Its Implementations On Real Estate Transactions

ISLAMABAD, (UrduPoint / Pakistan Point News - 3rd August, 2016) :The National Assembly Standing Committee on Finance and Revenue was informed on Wednesday by the Federal board of Revenue (FBR) regarding Tax imposition and its implementations on real estate transactions in light of the amendments made in the Finance Bill, 2016-17 (but not relates to capital gain tax). In this connection the 36th meeting of the Standing Committee on Finance, Revenue,Economic Affairs, Statistics and Privatization of the National Assembly was held today, the here in Parliament House, Islamabad, under the Chairmanship of Qaiser Ahmad Sheikh,MNA. The Committee discussed the agenda included Confirmation of minutes of last meeting held on 15-06-2016,"The Benami Transaction (Prohibition) Act, 2016"(Government Bill) and the Briefing by the Chairman, FBR regarding Tax imposition and its implementations on real estate transactions in light of the amendments made in the Finance Bill, 2016-17 (but not relates to capital gain tax).

The Committee approved / confirmed the minutes of last meeting held on 15th June,2016. The Committee members have shown their displeasure on the absence of senior representative from Ministry of Finance, Revenue & Federal Board of Revenue (FBR).

The Committee decided to defer the agenda item (ii & iii), above for its next meeting. The Meeting was attended by Rana Shamim Ahmed Khan, Muhammad Pervaiz Malik,Sardar Muhammad Jaffar khan Leghari, Ms. Shaza Fatima Khawaja and Syed Naveed Qamar, MNAs.