{"id":65963,"date":"2020-05-29T12:19:50","date_gmt":"2020-05-29T07:19:50","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65963"},"modified":"2020-05-29T12:19:51","modified_gmt":"2020-05-29T07:19:51","slug":"government-urged-to-slash-tax-on-rental-income","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/government-urged-to-slash-tax-on-rental-income.html","title":{"rendered":"Government urged to slash tax on rental income"},"content":{"rendered":"\n<p>Islamabad: President Islamabad Chamber of Commerce and Industry (ICCI)&nbsp;Muhammad Ahmed Waheed recently urged the government to slash the high tax rate on rental income to 10% in the upcoming budget, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/icci-requests-govt-reduce-interest-rate-to-5.html\" target=\"_blank\" rel=\"noreferrer noopener\">ICCI requests govt to reduce interest rate to 5%<\/a><\/p>\n\n\n\n<p>The ICCI president expressed his concerns that the up to 35% tax applicable on rental income had led to an increase in rents of commercial and official outlets \u2014 becoming a source of inconvenience for many companies around the country. He said that slashing the rental income tax would boost the already struggling businesses, and also help improve the government\u2019s tax revenue.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/real-estate-development-is-the-way-to-economic-growth.html\" target=\"_blank\" rel=\"noreferrer noopener\">Real estate development is the way to economic growth: VP ICCI<\/a><\/p>\n\n\n\n<p>President Waheed further said that the <a href=\"https:\/\/www.zameen.com\/news\/rental-income-new-brackets-introduced-taxes-raised-to-35.html\" target=\"_blank\" rel=\"noreferrer noopener\">imposition of 35% taxes on rental income<\/a> had raised the cost of living in the capital city. He asked the government to review this tax in the next budget, and bring it down to a 10% uniform rate as a final liability. He added that the recent 8 slabs on the said tax has created difficulties for businesses and had led to a rise in the instances of tax evasion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: President Islamabad Chamber of Commerce and Industry (ICCI)&nbsp;Muhammad Ahmed Waheed recently urged the government to slash the high tax rate on rental income to 10% in the upcoming budget, according to news sources. Read: ICCI requests govt to reduce interest rate to 5% The ICCI president expressed his concerns that the up to 35% tax applicable on rental income had led to an increase in rents of commercial and official outlets \u2014 becoming a source of inconvenience for many companies around the country. He said that slashing the rental income tax would boost the already struggling businesses, and also help improve the government\u2019s tax revenue. Read: Real estate development is the way to economic growth: VP ICCI President Waheed further said that the imposition of 35% taxes on rental income had raised the cost of living in the capital city. He asked the government to review this tax in the next budget, and bring it down to a 10% uniform rate as a final liability. He added that the recent 8 slabs on the said tax has created difficulties for businesses and had led to a rise in the instances of tax evasion.<\/p>\n","protected":false},"author":75,"featured_media":62814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[30278,24209,30279],"persona":[],"class_list":{"0":"post-65963","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-government-urged-to-slash-tax-on-rental-income","9":"tag-islamabad-chamber-of-commerce-and-industry-icci","10":"tag-taxes-on-rental-income","11":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government urged to slash tax on rental income - Zameen News<\/title>\n<meta name=\"description\" content=\"President ICCI Muhammad Ahmed Waheed recently urged the government to slash the high tax rate on rental income to 10% in the upcoming budget\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/government-urged-to-slash-tax-on-rental-income.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government urged to slash tax on rental income - Zameen News\" \/>\n<meta property=\"og:description\" content=\"President ICCI Muhammad Ahmed Waheed recently urged the government to slash the high tax rate on rental income to 10% in the upcoming budget\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/government-urged-to-slash-tax-on-rental-income.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-29T07:19:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-29T07:19:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/ICCI.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Hazafa Hasan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hazafa Hasan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Government urged to slash tax on rental income - Zameen News","description":"President ICCI Muhammad Ahmed Waheed recently urged the government to slash the high tax rate on rental income to 10% in the upcoming budget","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/government-urged-to-slash-tax-on-rental-income.html","og_locale":"en_US","og_type":"article","og_title":"Government urged to slash tax on rental income - Zameen News","og_description":"President ICCI Muhammad Ahmed Waheed recently urged the government to slash the high tax rate on rental income to 10% in the upcoming budget","og_url":"https:\/\/www.zameen.com\/news\/government-urged-to-slash-tax-on-rental-income.html","og_site_name":"Pakistan Real Estate News &amp; 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