{"id":18172,"date":"2023-07-24T12:12:47","date_gmt":"2023-07-24T07:12:47","guid":{"rendered":"https:\/\/propakistani.pk\/proproperty\/?p=18172"},"modified":"2023-07-24T12:12:47","modified_gmt":"2023-07-24T07:12:47","slug":"icci-urges-revisions-in-high-taxes-on-real-estate-sector","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/proproperty\/icci-urges-revisions-in-high-taxes-on-real-estate-sector\/","title":{"rendered":"ICCI Urges Revisions in High Taxes on Real Estate Sector"},"content":{"rendered":"<p>ISLAMABAD: Ahsan Zafar Bakhtawari, President of the Islamabad Chamber of Commerce and Industry (ICCI), emphasized the urgency of engaging realtors in consultations to rationalize the high taxes on this crucial sector.<\/p>\n<p>Addressing a seminar on tax issues of the real estate sector, jointly organized by ICCI in collaboration with the Islamabad Estate Agents Association (IEAA) and the Federation of Realtors Pakistan (FORP), Bakhtawari highlighted the pressing need for attractive incentives to encourage investment in the construction and real estate sector.<\/p>\n<p>During the seminar, Sardar Tahir Mehmood, President of the Islamabad Estate Agents Association and President of the Federation of Pakistan Realtors, emphasized the major tax issues faced by the real estate sector.<\/p>\n<div style=\"clear:both; margin-top:0em; margin-bottom:1em;\"><a href=\"https:\/\/propakistani.pk\/proproperty\/real-estate-industry-in-pakistan-needs-tax-reforms-for-growth-and-prosperity\/\" target=\"_blank\" rel=\"dofollow\" class=\"u4630f15ed703f17175a24aef08e07e22\"><style> .u4630f15ed703f17175a24aef08e07e22 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#2C3E50; border:0!important; border-left:4px solid #F1C40F!important; text-decoration:none; } .u4630f15ed703f17175a24aef08e07e22:active, .u4630f15ed703f17175a24aef08e07e22:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u4630f15ed703f17175a24aef08e07e22 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u4630f15ed703f17175a24aef08e07e22 .ctaText { font-weight:bold; color:#F1C40F; text-decoration:none; font-size: 16px; } .u4630f15ed703f17175a24aef08e07e22 .postTitle { color:#eaeaea; text-decoration: underline!important; font-size: 16px; } .u4630f15ed703f17175a24aef08e07e22:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">ALSO READ<\/span>&nbsp; <span class=\"postTitle\">'Real Estate Industry in Pakistan Needs Tax Reforms for Growth and Prosperity'<\/span><\/div><\/a><\/div>\n<p>He also highlighted the destructive consequences of the 1% tax on deemed income of immovable assets under Sec-7E and called for its immediate withdrawal to protect real estate businesses from collapse.<\/p>\n<p>Mehmood expressed concerns over the raised withholding tax (WHT) rates on filer and non-filer buyers and sellers, asserting that such measures could lead to tax evasion instead of enhancing tax revenue for the country.<\/p>\n<p>He warned that realtors would stage a strong protest against these coercive tax measures if not revised by the government.<\/p>\n<p>Besides, prominent figures from the real estate sector also voiced their concerns and called upon the government to withdraw high taxes on the real estate sector, aiming to safeguard the economy from further troubles.<\/p>\n<p><em>Source: Islamabad Post<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: Ahsan Zafar Bakhtawari, President of the Islamabad Chamber of Commerce and Industry (ICCI), emphasized the urgency of engaging realtors in consultations to rationalize the high taxes on this crucial sector. Addressing a seminar on tax issues of the real estate sector, jointly organized by ICCI in collaboration with the Islamabad Estate Agents Association (IEAA) and the Federation of Realtors Pakistan (FORP), Bakhtawari highlighted the pressing need for attractive incentives\u2026<\/p>\n","protected":false},"author":3,"featured_media":793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-18172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"img_urls":{"thumbnail":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2022\/07\/investing-real-estate-strategies.jpg",535,357,false],"medium":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2022\/07\/investing-real-estate-strategies.jpg",535,357,false],"full":["https:\/\/propakistani.pk\/proproperty\/wp-content\/uploads\/2022\/07\/investing-real-estate-strategies.jpg",535,357,false]},"author_name":"Firas Qureshi","categories_name":["News"],"title_text":"ICCI Urges Revisions in High Taxes on Real Estate Sector","related_stories":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts?filter&per_page=4&categories=5&exclude=18172","_links":{"self":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/18172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/comments?post=18172"}],"version-history":[{"count":0,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/posts\/18172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media\/793"}],"wp:attachment":[{"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/media?parent=18172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/categories?post=18172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propakistani.pk\/proproperty\/wp-json\/wp\/v2\/tags?post=18172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}