I heard that current government has plan to increase the property tax by at least ten folds against properties of one Kanal and above... I also read a news on one of Pakistan news channels as one senior excise official was quoting that govt to increase the tax by at least 10 times ... My question to experts that is this authenticate news of 10 times?? And if so then how it will effect the real estate business in Pakistan!!!
Regards,
Is there nobody out there want to comment on this issue ??
There are many rumors in market, one can not comment till something in implemented. Plus there are many ways to evade tax in Pakistan, such as fake/underpriced aggrements, and the Government already has imposed tax on real estate trading from last 2 years and people are paying it. It won't affect the market of genuine buyer at all, plus the real estate guys will make their own way. So, wait and watch.
Dear shoaib there is news that govt is thinking on tax ratio but no news about 10 times increase it will not be practical
Below is one of the link to that...