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( 867 posts )
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.
1240 days ago
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.
1240 days ago
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
1236 days ago