Islamabad 51
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
Islamabad 51
No Result
View All Result
Home Latest

IMF Urges FBR to Extend Capital Gains Tax to Cryptocurrencies

Editor Isb by Editor Isb
May 14, 2025
in Latest, National
0
crypto currency coin
Share on FacebookShare on Twitter

ISLAMABAD: The IMF has suggested that the FBR expand the coverage of the Capital Gains Tax (CGT) by incorporating cryptocurrencies into the tax framework.

Additionally, it has proposed a reassessment of real estate and listed securities tiers to ensure all profits are subject to taxation, irrespective of the duration of asset holding.

More Insights: Explore Related Stories

FBR SIM Block Order: Complete List and How to Unblock your Mobile SIM cards?

FBR Set to Launch Tajir Dost Scheme to Register Traders in Major Cities

Government Launches Tajir Dost Scheme for Retailer Registration in Major Cities

Pakistan Initiates Talks with IMF for Extended Fund Facility Amidst Economic Crisis

Furthermore, the IMF has advised the FBR to enforce regulations obligating property developers to monitor and report all transactions before the finalization and registration of property titles. Failure to comply with these regulations may lead to penalties being imposed. This recommendation aims to bring the widespread practice of trading files for various plots within housing schemes under the tax ambit.

These suggestions by the IMF could potentially be integrated into the forthcoming bailout package under the Extended Fund Facility (EFF), with the FBR expected to incorporate them into the next fiscal year’s budget through the finance bill.

According to the IMF’s technical assistance report, Pakistani authorities have encountered difficulties in assessing and collecting taxes on capital gains from the sale of interests in real estate. As properties are usually not formally registered until legal completion, transfers of real estate interests before this stage often go untaxed.

To address this issue, the IMF proposes compelling property developers to monitor and report all such transfers before property title registration, with penalties for non-compliance, including secondary liability for any outstanding taxes. This would mean that if the transferor fails to pay the tax, the responsibility would shift to the property developer.

The IMF has also suggested methods to enhance capital gains taxation, including broadening the range of assets subject to taxation to include new types of investments like cryptocurrencies. It also recommends taxing capital gains on real estate and listed securities regardless of the duration of ownership.

Additionally, the IMF has recommended amending the definition of “personal moveable property” in Section 37(1) of the Income Tax Ordinance to include a catch-all category covering any investment property that is not stock-in-trade or assets subject to depreciation or amortization for tax purposes.

(Islamabad51_Newsdesk)

Tags: Capital GainsCryptocurrenciesFBRIMF
Previous Post

Funeral prayers for Lt. Col. Kashif Ali and Capt. Badar offered in Rawalpindi

Next Post

CDA Announces Revised Prices of Residential, Commercial Water Supply Tanks in Islamabad

Editor Isb

Editor Isb

Related Posts

SIM Block FBR

FBR SIM Block Order: Complete List and How to Unblock your Mobile SIM cards?

by Editor Isb
May 14, 2025
0

ISLAMABAD : The Federal Board of Revenue (FBR) has taken strict action against non-filers by directing the Pakistan Telecommunication Authority...

FBR Decides to Impose Retailer Tax in Major Cities

FBR Set to Launch Tajir Dost Scheme to Register Traders in Major Cities

by Editor Isb
May 14, 2025
0

ISLAMABAD: The Federal Board of Revenue (FBR) is gearing up to initiate the registration process for traders under its Tajir...

Retailer Shop in pakistan

Government Launches Tajir Dost Scheme for Retailer Registration in Major Cities

by Editor Isb
May 14, 2025
0

ISLAMABAD: In line with IMF demands, the government has initiated the Tajir Dost Scheme registration process in six major cities...

Next Post
cda water tank supply islamabad

CDA Announces Revised Prices of Residential, Commercial Water Supply Tanks in Islamabad

cricketer darren sammy

Darren Sammy Declines PCB's Offer to Coach Pakistan

security forces army

Security Forces Kill Eight Terrorists in North Waziristan Operation: ISPR

National Highway and Motorway Police Jobs 2024

National Highways & Motorway Police (NHMP) Announces Over 2,300 Jobs

Follow Us

Recommended

Punjab government announces Rs. 23,000 financial aid for mothers under “Aghosh” program

Punjab government announces Rs. 23,000 financial aid for mothers under “Aghosh” program

2 months ago
tom-brady-bill-belichick

Tom Brady’s Tribute to Belichick: ‘Grateful to the Best Coach in NFL History’

1 year ago
China’s Cyberspace Administration Conducts Extensive Probe, Removes 1.4 Million Social Media Posts

China’s Cyberspace Administration Conducts Extensive Probe, Removes 1.4 Million Social Media Posts

2 years ago
PTI Leader Asad Qaiser Arrested from His Islamabad Residence

PTI Leader Asad Qaiser Arrested from His Islamabad Residence

2 years ago

Categories

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • Home 1
  • Privacy Policy
  • Terms of Service

Follow us on Google News for Latest Updates

Recent News

  • New taxes to be imposed on Karachi wedding halls, details revealed
  • Pakistani mountaineer Sirbaz Khan summits all 14 highest peaks without oxygen
  • Karachi faces 12 to 14 hours of load-shedding in various areas

Category

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us

© 2023 Islamabad51