{"id":94838,"date":"2023-09-11T18:09:21","date_gmt":"2023-09-11T13:09:21","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=94838"},"modified":"2023-09-11T18:09:22","modified_gmt":"2023-09-11T13:09:22","slug":"icci-urges-govt-reduces-real-estate-taxes","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/icci-urges-govt-reduces-real-estate-taxes.html","title":{"rendered":"ICCI urges govt to decrease taxes on real estate, construction sector \u00a0"},"content":{"rendered":"\n<p>Islamabad: Islamabad Chamber of Commerce and Industry (ICCI) President Ahsan Zafar Bakhtawari has requested the government that there is a need for substantial cuts in real estate and construction sector taxes, according to a news source on September 11.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/ceo-jianming-esnures-digital-growth-in-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pak, China to collaborate on Digital Silk Road to strengthen e-commerce<\/a><\/p>\n\n\n\n<p>According to the details, ICCI President Bakhtawari argued that tax cuts could potentially attract an impressive foreign investment of around USD 6 billion within a short period, providing a much-needed boost to Pakistan\u2019s economy.<\/p>\n\n\n\n<p>Speaking as the chief guest at a reception held in his honour, ICCI President lamented that heavy taxation had taken a toll on the real estate sector\u2019s ability to attract foreign remittances and investments. This trend has led to a substantial decline in foreign remittances, creating an alarming gap.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/cda-provide-all-facilities-private-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">CDA to provide all facilities to private sector for beautification<\/a><\/p>\n\n\n\n<p>To counter all dreadful gaps and challenges any further, Bakhtawari urged the government to rationalise taxes for the sector. He proposed the withdrawal of taxes on deemed income for immovable property and the creation of a conducive environment that would reinvigorate the sector and, in turn, drive the country\u2019s economic development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Islamabad Chamber of Commerce and Industry (ICCI) President Ahsan Zafar Bakhtawari has requested the government that there is a need for substantial cuts in real estate and construction sector taxes, according to a news source on September 11. Read: Pak, China to collaborate on Digital Silk Road to strengthen e-commerce According to the details, ICCI President Bakhtawari argued that tax cuts could potentially attract an impressive foreign investment of around USD 6 billion within a short period, providing a much-needed boost to Pakistan\u2019s economy. Speaking as the chief guest at a reception held in his honour, ICCI President lamented that heavy taxation had taken a toll on the real estate sector\u2019s ability to attract foreign remittances and investments. This trend has led to a substantial decline in foreign remittances, creating an alarming gap. Read: CDA to provide all facilities to private sector for beautification To counter all dreadful gaps and challenges any further, Bakhtawari urged the government to rationalise taxes for the sector. He proposed the withdrawal of taxes on deemed income for immovable property and the creation of a conducive environment that would reinvigorate the sector and, in turn, drive the country\u2019s economic development.<\/p>\n","protected":false},"author":88,"featured_media":62814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[6334,3339],"persona":[],"class_list":{"0":"post-94838","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-icci","9":"tag-real-estate-taxes","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ICCI Urges Govt to Reduces Real Estate Taxes - Zameen News<\/title>\n<meta name=\"description\" content=\"ICCI, in recent developments, requested for tax relaxation in the real estate sector to attract more national and international investments.\" \/>\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\/icci-urges-govt-reduces-real-estate-taxes.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICCI Urges Govt to Reduces Real Estate Taxes - Zameen News\" \/>\n<meta property=\"og:description\" content=\"ICCI, in recent developments, requested for tax relaxation in the real estate sector to attract more national and international investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/icci-urges-govt-reduces-real-estate-taxes.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=\"2023-09-11T13:09:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-11T13:09:22+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=\"Muhammad Zohaib Nasir\" \/>\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=\"Muhammad Zohaib Nasir\" \/>\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":"ICCI Urges Govt to Reduces Real Estate Taxes - Zameen News","description":"ICCI, in recent developments, requested for tax relaxation in the real estate sector to attract more national and international investments.","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\/icci-urges-govt-reduces-real-estate-taxes.html","og_locale":"en_US","og_type":"article","og_title":"ICCI Urges Govt to Reduces Real Estate Taxes - Zameen News","og_description":"ICCI, in recent developments, requested for tax relaxation in the real estate sector to attract more national and international investments.","og_url":"https:\/\/www.zameen.com\/news\/icci-urges-govt-reduces-real-estate-taxes.html","og_site_name":"Pakistan Real Estate News &amp; 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