FBR has issued the Computerized Payment Receipt (CPR-FE) for the payment of Federal Excise Duty (FED) on the allotment or transfer of commercial property and the first allotment or first transfer of open plots or residential property.
FBR issued S.R.O.1376(I)/2024 to amend the Federal Excise Rules, 2005, outlining the procedure for collecting the duty. Developers or builders are required to collect the duty at the time of allotment or transfer, with the rate varying based on the buyer’s tax status.
The collected duty must be credited to the Federal Government on the same day through a CPR or SWAPS payment receipt (SPR). Developers or builders are also obligated to submit a monthly statement to the Commissioner.
In cases where the duty is not paid or short-paid, the Inland Revenue Officer will proceed to collect the unpaid amount, along with a default surcharge.
If it is determined that the duty was paid by the buyer, the developer or builder will not be liable for recovery but will still be subject to the default surcharge.
