Islamabad Chambers of small traders rejected the proposed property tax mechanism

Islamabad Chambers of small Trader’s chairman Shahid Rashid but told media that traders of Pakistan have dismissed the new policies proposed by Government. According to him, such policies will only drive real estate sector towards destruction & failure which will directly affect the number of people employed in real estate sector. Moreover, it will save corrupt people from possible penalties as amnesty scheme will help them getting away with the tax evasion they were involve in the past. He added that, for property rate assessment DC rate is a better option and it should be increased. Pakistani’s are already investing in the Dubai and Malaysian real estate industries which is a bane for economy and instead of back paddling this process, Current policies of Government will only result in disappointed investor and all the real estate investment will be driven out of the country.

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