Capital Value Tax on Real Estate Related Transactions 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.
Labour & Employment attorneys work on cases that deal with problems in the workplace, such as harassment, lay offs, disability claims, etc. A labour law attorney represents employers or employees, generally over the terms and conditions of employment.
Here are the Best Labour & Employment Lawyers in Karachi, Pakistan.
Human Resource is an essential ingredient to any business hence the same is essential for us because of our clients. However, legal protection, legal rights and legal risks, governing employment agreements are most essential.
Therefore the laws and regulations governing relationships between employers and employees are carefully scrutinized before advising our clients as their interest in paramount for us.
We provide our services to following sectors, doing business in Karachi and other parts of Pakistan:
Airlines, Airport Ground Handling Companies, Banking & Insurance, Car Manufacturers, Home Textiles, Garment Manufacturing Industries, Leather Tanneries & Leather Product Manufacturers, Electronics, Mining, Hospitals, Chemical Industries, Hard Board Manufacturing Industries, Power Generation Companies, Pharmaceuticals, Stock Exchange, Cable Manufacturing Industries, Communication and Mobile Service Companies, Internet Service Providers, Shipping Terminals, Transportation & Distribution Companies.
Our Law Firm is rated among the top law firms in Pakistan in the field of Human Resources, employment and labour laws.
Irfan Mir Halepota, Advocate Supreme Court of Pakistan.