HEAVY TAXES IMPOSED BY FBR IN THE REAL ESTATE SECTOR
IMPOSITION OF HEAVY (HORRIABLE) INCREASE IN FBR RATES IN REAL ESTATE SECTOR
Recently FBR has increased horribly FBR rates in the real estate sector this increase is almost 300 – 400%, In the areas including DHA and around the Lahore lands.
This increase is almost double / triple of the market price. However in Karachi city and all categories increase is just 15% to 25%. This policy / decision is not applicable. Everything will be stuck regarding this decision, again million of people will be unemployed and many industries will be suffered related with this sector and the revenue which government obtained will be declined and also capital will be flew up abroad in this result.
Real investor / Purchaser internal the Pakistan and overseas residents / employee will be avoid to purchase the property in Pakistan.
It is humble request to the authorities please take this decision back and if increase is necessary for the benefit of Pakistani economy then please revise these rates up to 15-20 Percent.
If the real estate business will be grow the revenue of government will be increase and it will be strengthen the economy. Otherwise a big disaster is looking for real estate sector.
ZAHID BIN SADIQ