{"id":5699,"date":"2021-05-09T23:21:56","date_gmt":"2021-05-09T23:21:56","guid":{"rendered":"https:\/\/www.feeta.pk\/blog\/trc-decides-to-refine-system-for-valuation-of-immovable-properties\/"},"modified":"2023-10-13T11:41:05","modified_gmt":"2023-10-13T11:41:05","slug":"trc-refines-valuation-system-for-immovable-properties","status":"publish","type":"post","link":"https:\/\/www.feeta.pk\/blog\/trc-refines-valuation-system-for-immovable-properties\/","title":{"rendered":"TRC Refines Valuation System for Immovable Properties"},"content":{"rendered":"<div>\n<h3><strong>ISLAMABAD: <\/strong><\/h3>\n<p>The Tax Reform Commission, led by state revenue minister Hammad Azhar, on Monday, decided to refine the system for valuing real estate, speeding up a process of tracking and tracing in the tobacco sector.<\/p>\n<p>This would also include recommended procedures for taxing small entities involved in the <a href=\"https:\/\/www.feeta.pk\/blog\/category\/market-overview\/\">retail trade<\/a>, reports the <em>Business Registrar.<\/em><\/p>\n<p>The meeting discussed the topic of real estate appraisal and informed the participants that using appraisal tables was a tentative proposal and was not a long-term measure to appraise such real estate.<\/p>\n<p>Moreover, from a review appraisal each time, a constant solution for the appraisal of real estate was proposed during the meeting.<\/p>\n<p>The issue of a link between bank accounts and national tax numbers (NTN) for broadening the tax base was also discussed during the meeting.<\/p>\n<p>Therefore, it was agreed to investigate the likelihood of effectively using the data of the National Database and Government Authority (Nadra) to bring potential people into the tax network.<\/p>\n<p>The meeting also accepted the recommendation of the Implementation Committee on Tax Reforms (TRIC) to draft a simplified return form for small and medium-sized enterprises (SMEs).<\/p>\n<p>According to officials of the Federal Revenue Board (FBR), the holding in the pursuit of a track record in the tobacco industry has contributed to a massive revenue loss of 40-50 billion a year.<\/p>\n<p>Watch this space for more information on that. Stay tuned to <a href=\"https:\/\/www.feeta.pk\/blog\/\">Feeta Blog<\/a> for the latest updates about architecture, Lifestyle and Interior Design.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: The Tax Reform Commission, led by state revenue minister Hammad Azhar, on Monday, decided to refine the system for valuing real estate, speeding up a process of tracking and tracing in the tobacco sector. This would also include recommended procedures for taxing small entities involved in the retail trade, reports the Business Registrar. The<\/p>\n","protected":false},"author":1,"featured_media":5700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1061,1065,1062,1058,938,1150,1066,1067,910,873,1049,1188,954,1116,1183,1068,1063,6,1069,1070],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/posts\/5699"}],"collection":[{"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/comments?post=5699"}],"version-history":[{"count":5,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/posts\/5699\/revisions"}],"predecessor-version":[{"id":10473,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/posts\/5699\/revisions\/10473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/media\/5700"}],"wp:attachment":[{"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/media?parent=5699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/categories?post=5699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.feeta.pk\/blog\/wp-json\/wp\/v2\/tags?post=5699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}