Property tax negotiations saved from being driven into a deadlock

According to the news, a session was carried out yesterday after the Jummah prayer, between Government Officials and Realtors in which 3 big cities property tax dispute is said to be near to a solution. Rates will solely depend on the area and location of property, fair market rates would be as low as 35% to a max of 400-500%. For instance, rates of societies like DHA will get a rise of 400-500%. Some sources told media that during negotiations, Property dealers of Peshawar threatened to strike while FBR rejected any possible pressure from opponent party and clarified that they don’t have any intention to captivate the market instead these policies are meant to control corruption and to bring black money into tax net, but other parties present at the moment and FBR’s IR policy member Rehmat Ullah Wazir came forward, controlled the situation and saved property dealers and Government officials from a possible a deadlock. On Saturday, July 30, 2016, negotiations will start again in the morning and Finance Minister will join the discussion at 4 pm.

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