People in the country’s financial sectors are talking about the possibility of new taxes on the real-estate sector. Analysts who regularly appear on TV are also pointing to this direction. It is important to mention that the said sector is already overburdened by a plethora of unnecessary taxes in the shape of Sections 236K, 236C, and 7E. On top of it, there is capital gain tax that people have to pay on the sale of immovable property.
These taxes are causing a decline in real estate. The authorities concerned are requested to remove these taxes to decrease the cost of doing business and increase sales. This sector can play a vital and important role to enhance the federal revenue.
Mumraiz Khan
Karachi
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