Pros and cons of taxes

[orangesoul07 (ASAD)]

New amendment pos and cons

So practically dc rates were used to calculate taxes , now valuer will evaluate according to market which means 5 times more taxes , on other hand people near govt projects whose land used to be grabbed and offered dc rate now wont suffer a lot ,

But how will valuer evaluate , who will control market rate ? , will total mechanism going to change like y in pak arab plot is 15 lac per marla so how come in wapda 10 lac merla will sbp correct these things too ,and how they will see certain changes in rate in current market even on files ad gambling , i think govt cant be that much intelligent they just put more taxes so everyone can pay weather its white money or black just by discarding dc rates . This is what it's all about ??? How gurus see it?

[khannu (nadeemK)]

Maybe not much will change as now the SBP appraiser will appraise it low in exchange for a bribe. As long as the bribe amount plus the tax on the low appraisal is lower than the tax on actual market level appraisal people would be willing to pay the bribe. Tax evasion will come down only when a basic level of trust is established between tax payers and the government. At present, that trust is very low

[saadzafar92_2 (Falcon)]

Asad sb…Sir there is no proper elaboration of the law as of now so we have to wait for details before proceeding on to conclusions and affects. Holistically, this is nothing more than a bizarre attempt to collect money since it has no incentive for the filers, so it clearly shows that they are least bothered with the filer or non filer issue rather they they want to stash more and more money in government reserves for their own luxuries. Real estate sector is the victim this time because these basta**s have already ruined other industries so they had no other alternatives available as whole of the Pakistan, be it old industrialists or businessmen who were just fed u because of their failed business policies and energy crises, was taking refuge in this sector just to save their money from devaluation.

[kasheikh72 (Kashif Sheikh)]

Plots costing up to Rs 3 million (30 lakhs) are exempt from payment of CGT. Therefore these properties are unlikely to be seriously effected by this measure and might actually see an increased investor interest. This is because possession plots always offer more security as compared to files.