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Property Taxation discussions and advice. Participate in ongoing dicussions and get invaluable Property Taxation advice from people who are experts in their industries or start a new Property Taxation discussion.
Imran A. Kha..
( 461 posts )

[38 Replies]
New tax is being proposed in upcoming budget on all property buying/selling for year 2016-17. Filers will have to pay 5% while non-filers will pay 8% on each transaction. Will this be good or bad?

Http://e.Jang.Com.Pk/05-02-2016/pindi/pic.Asp?Picname=617.Gif

    1239 days ago In Property Taxation
    Post Answer
    Junaid
    (1015 posts)
    This will destroy the property sector but I think that is what NLeague wants
      1239 days ago 

      Prop Guide
      (6961 posts)
      Wow this is incredible....
        1239 days ago 

        Naveed
        (21 posts)
        OMG this is crazy of the government.
          1239 days ago 

          Adnan Malik
          (68 posts)
          Disaster, rip-off
            1239 days ago 

            Million$$$
            (439 posts)
            This will be blessing for genuine buyers want to buy for home construction.....prices could come in reach for many...
              1239 days ago 

              Ahmed Tanoli
              (554 posts)
              So its mean no more investors will come in this business.Which will cause the drop of prices in property.
                1239 days ago 

                Junaid
                (162 posts)
                So who voted for PML-N and its economic wizards? Now enjoy this upcoming bust in the property market. Already there are no buyers in market as majority of the money is flowing overseas into buying properties or golden visas and with this new tax, i think property market is gone down the drain.
                  1238 days ago 

                  Tamim
                  (84 posts)
                  Non filer eg.







                  Plot 50 lac * 8 percent.







                  400, 000 tax. + transfer fee+ commission+ other tax= Pmln+Dar
                    1238 days ago 

                    Raza
                    (345 posts)
                    Last year after the budget, I had made a projected assessment that the government is out to choke the property market of money inflows. Thats when I started the thread "New budget: Govt trying to crash property market?". At that time many people had doubts that any government could do this on purpose. If this proposal does get tabled and approved, even if the tax rates are slightly lower than in the report, I don't think anyone should be left with any more doubts.

                    Furthermore, if the tax was applicable only to non-filers, one could have argued that this was merely a part of their lopsided documentation drive, which conveniently excludes some other sectors. However the fact that there is a sizable tax proposal for even tax filers is a clear sign that there is a much broader agenda at work behind this proposal. I will provide some more analysis on this taxation measure after it has been approved or at least formally tabled in the parliment.
                      1238 days ago 

                      Asad Malik
                      (419 posts)
                      Spot on Raza. You were correct. Last year government released the teaser and tested the water. Since all the experimenting is done, now they can enforce the total plan. People will protest and demonstrate but government will then lower it a little bit to make everyone happy.
                        1238 days ago 

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