The Board of Revenue’s Registration Branch has officially resumed property registry operations after a three-week pause, following a gazette notification announcing new property tax rates.
The restoration of the online registration system comes after significant revisions to capital gains and advance tax rates on property transactions, according to the notification released by the authorities.
For properties up to Rs50 million, active filers now face a 4.5 percent capital gains tax (up from 3 percent), while late filers are charged 7.5 percent (previously 6 percent). Non-filers will pay 11.5 percent.
For properties between Rs50 million and Rs100 million, active filers will pay 5 percent, late filers 8.5 percent, and for property over Rs100 million, the tax is 5.5 percent, regardless of filer status.
Advance tax for buyers has also been adjusted. Active filers buying property worth up to Rs50 million will now pay just 1.5 percent, down from 3 percent. Late filers pay 4.5 percent, down from 6 percent.
However, non-filers in the same bracket will be charged a higher rate of 10.5 percent. For properties between Rs50 million and Rs100 million, tax rates rise to 2 percent for filers and 5.5 percent for late filers.
Non-filers in this range will face a steep 14.5 percent tax. For property over Rs100 million, the rate is 2.5 percent for filers and 5.5 percent for late filers, the notification confirmed.
The Board of Revenue clarified that these changes aim to improve tax collection, encourage timely filing, and promote transparent property transactions through digital registration systems.
