CAPITAL VALUE TAX (CVT) LAWYER / LAW FIRM IN KARACHI PAKISTAN.

(Ph: +92 321 2770225) (Email: info@osmanilaw.com) (Web: www.osmanilaw.com)


Capital Value Tax on Real Estate in Pakistan

         The Capital Value Tax is applicable in urban areas for residential property exceeding an area of one kanal and in case of commercial properties without any threshold of land area or size of the property. 

         The Capital value tax at the rate of 2 percent of recorded value has been levied vide Finance Act, 2006. Where the value of such property is not recorded, the CVT is payable at Rs. 50 per square yard of     land area.

         All transfers falling under the scope of purchase, gift, exchange, surrender, power of attorney and relinquishing the rights have been subjected to the capital value tax. However, transactions between spouses, parents, grand parents, brothers and sisters through gift and inheritance have been excluded from its purview.

For more information, please contact:

A. NAWAZ OSMANI LAW ASSOCIATES.
SUITE # 17, 7th FLOOR, OFFICE TOWERS, RIMPA PLAZA,
M. A. JINNAH ROAD, KARACHI. PAKISTAN.
Cell & WhatsApp # +92- 321-2770225, Ph. +92- 21-32762286.
Website: www.osmanilaw.com, Email: info@osmanilaw.com.