According to the FBR's order, in addition to the mandate assigned through section 230F of Income Tax Ordinance, 2001 Directorate General IMP-IR shall act as FBR's specialised agency on all matters relating to real estate/immoveable properties. In pursuance of section 230F of Income Tax Ordinance, 2001 (inserted through Finance Act 2018) a new IR field formation namely DG IMP has been raised. The said section also provides definitions for all implied terms & expressions, the scope, operational mechanics and procedural parameters of this newly created tax authority and above all contains clearly spelled grievance redressal mechanism for the aggrieved taxpayers, the FBR said.
The organisational structure of the Directorate General IMP-IR revealed that the Directorate General IMP-IR shall comprise DG IMP based at Islamabad and 03 directors IMP-IR i.e. Director IMP-IR North, based at Islamabad, covering KPK, ICT and Civil Division of Rawalpindi, Punjab province; Director IMP-IR Central, based at Lahore, covering the whole province of Punjab except civil Division of Rawalpindi; Director IMP-IR south based at Karachi covering the provinces of Sindh and Balochistan.
For the time being, DG BTB and Commissioners BTB Islamabad, Lahore and Karachi shall be assigned the additional charges of these newly established offices and each regional directorate shall be housed at existing BTB Zones at Karachi, Lahore and Islamabad.
The DG IMP and each regional director shall be assisted by one or more dedicated units headed by ACIR/DCIR, the FBR said.
About the legal functions of the Directorate General IMP-IR, the FBR said that the legal functions shall be notified later, in the light of sub-section (2) of section 230F which says: "The Board may, by notification in the official Gazette, specify the functions and jurisdiction of the Directorate-General and its officers." Formal legal operations shall start in the light of 230 F(22) which reads: "The provisions of this section shall come into force on such date as the federal government may, by notification in official Gazette, appoint;"
The job description of the DG and Directors IMP-IR revealed that Directorate General IMP-IR shall act as FBR's specialised agency on all matters relating to real estate/immoveable properties i.e. Open plots, constructed properties both residential, commercial & industrial, agricultural lands, housing schemes/projects/societies/ towers/chains of luxury apartments and other related similar assets.
The agency would also cover real estate classification in respective jurisdictions; office building (urban and suburban, skyscrapers, high rise buildings, single tenanted/multi-tenanted); retail (properties that house the retailers and restaurants and food outlets-multi-tenanted/standalone buildings) and industrial buildings house industrial operations i.e. heavy manufacturing, light assembly, bulk warehouse, flex industrial (both industry and offices) and research & development, mostly located outside of urban areas, especially along major transportation routes.
The FBR said that the multifamily covers apartments, condos, co-ops, and town homes, high rise, mid rise, garden style and special purpose housing (particular population segment, including student housing, seniors housing, and subsidised (either low income or special need) housing).
The sector of hotels covers establishments providing accommodations, meals, and other services for travellers and tourists. It includes independent (boutique) or flagged-(part of a major hotel chain); extended-stay and resort: full-service, large amount of land, in a typical resort location and has an attached golf course, water park, or amusement facility and special purpose real estate may be owned by commercial real estate investor i.e. amusement parks, self storage, and conference rooms, etc.