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Sheikh Farha..
( 2 posts )

[6 Replies]
Logical question comes in mind why the real estate market is slow,
Are people scared taxes imposed by gop?

Or

Are people not satisfied with current gop performance?

    442 days ago In Investors Advice
    Post Answer
    Imtiaz
    (2034 posts)
    Reason are manifold:

    - Unjust Tax Regime: When you collect Taxes from the working class to subsidise the Elite, there is a feel of betrayal by state among the citizens. Example: When State collects each cent of income tax from salary even before salary reaches one's account but not a single cent given back when one goes unemployed. How does that feel?

    - Each single item from morning tooth paste to green tea before sleep is under tax. Compare that with the subsidies, allowances, bonuses and free untilities to law makers who are already among the elite and day/night curse the nation for tax evasion.

    This is the lamest and dumbest excuse by state that people don't pay tax. Common man pays tax even for the Kachaa he wears but the State doesn't direct the tax where it should be so there is a feel of disgust and unjust with current taxation system. The day the State felt morally right it will attain all necessary authority to extract each cent from the evaders.

    Real Estate:

    - Short Term: Investments have suffered as more taxes in combination with economic deterioration eats away all the profits for frequent buying/selling.

    - Long Term:

    - Local genuine buyers have reduced saving and purchasing power due to shot up USD & inflation.

    - Overseas buyers are at a still and cautious with investments as in recent year saving in foreign currency yielded more return then Real Estate investments.

    Also, check last year returns filing of our leaders cursing nation as tax evaders. Their palaces at prime location Jaati Umra, Bilawal House, Bani Gala are mostly valued at 30000 to 35000 per Kanal. Check the valuation rate for areas where the common live.

    It's not a Tax System it's Money extortion from the common to subsidise the elite and such system never works!! Compare that to EU (mostly welfare state) where people literally que up to pay taxes and in return state safeguards them as a guardian!
      442 days ago 

      Sufiyan Mahm..
      (111 posts)
      Mr Imtiaz, what you are saying makes a lot of sense. People would willingly pay up if they knew they were going to benefit from it. (i think they would pay up even if they were to benefit in the long run, or if they expected that next generations would benefit.)



      Although, we can't expect the state to become welfare since the "system" has no money. And this brings us back to the question that why the system has no money?



      I don't know if we can morally correct the society. But perhaps we can improve if we individually began to monitor our own actions. Because it's the people who make the system, and system is non-rewarding because we are all corrupt at some level.



      On the other hand, i don't know how a common man is supposed to easily become a filer when the masses find the process complicated and lengthy and hiring professional services is like paying hefty amounts on top of your taxes.
        442 days ago 

        Isloo1
        (868 posts)
        @Sheikh Farhan

        There is no property buying and selling due to increased restrictions on non-filers since 2015, also increased tax rates and massive devaluation has completely eroded investor's confidence. Until new money finds its way in, this sector will remain dead.

          441 days ago 

          ASAD
          (882 posts)
          Govt about to dmolish FBR and making new
            440 days ago 

            Zain Malik
            (31 posts)
            Loge apna kala dhan bachanay ke liye market mein invest nahi kar rahay bus. Non filer invest nahi kar sakta aur doosra agar investor bantay hain tou money trail dekhani parti hai jo ke koi karne ko tayaar nahi
              438 days ago 

              Sufiyan Mahm..
              (111 posts)
              Mr Zain, what you have pointed out is, sadly, a reality. And this is why the government has come down so hard pertaining to taxes. It is a strict need of the hour to eliminate such elements from various Pakistani sectors.
                423 days ago 

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