PESHAWAR: The Peshawar Property Association on Monday urged the federal government to cease taxing the real estate industry ‘unfairly’.
According to the sources, a member of the group raised the concerns of the real estate industry during a news conference at the Peshawar Press Club.
The member added that gain tax, old property taxes of 2% for filers and 7% for non-filers, and the FBR fee collection on plot and house transfers will harm the real estate industry.
Furthermore, he also stated that in addition to raising the stamp duty, the provincial administration had also hiked the transfer and registry costs.
Additionally, the builders and laborers involved in the industry, he claimed, would also be impacted by these tariffs over the real estate industry.
It should be noted that frequent strikes, protests, and rage from the general public in various districts were seen in wake of these taxes.