ISLAMABAD: The government has announced a major tax relief for long-term property owners.
Under the 2025 Budget, individuals who have lived in their residential property for 15 years or more will be exempt from withholding tax.
This move is aimed at easing the financial burden on middle-income families.
The exemption applies only to owner-occupied properties.
Those renting out their homes or using them for commercial purposes will not be eligible.
The change is expected to benefit thousands of long-term residents across Pakistan.
Measure Aims to Reward Long-Term Ownership
Officials say the exemption recognizes the stability and civic contribution of long-term homeowners.
It also reduces unnecessary tax filings and documentation for senior citizens.
The government hopes this will encourage more people to formally register and maintain residential ownership.
Real estate professionals have welcomed the move as a step toward fairer taxation.
They also expect it to enhance trust between property owners and the tax system.
Broader Property Reforms Expected
This tax relief follows other property-related adjustments in Budget 2025.
Further reforms are likely in upcoming quarters to streamline real estate regulations.
Experts predict increased compliance and property documentation under the revised regime.
