Jameel Mughal® replied on Monday, June 27, 2016 07:41 AM
My anticipation is instead of going to long hassle of evaluation and plus minus of sale Purchase difference, they will go for Flat tax [Desi Method], It may start from DC value between 3 to 5%. So selling a plot in 100 with DC rate 60 seller may be paying 2 to 3 Lac which looks Justified, But details have to come yet.
Whether it is good or not good for country is different debate. There is IMF pressure to do more documentation of economy and increase tax net. This is only way to increase the GDP, In case of Pakistan the GDP 90% issue is Lack of Documentation. It is less dependent on revenue. For example there are 3000 home owners in Valencia and their net worth is 6 Cror each average [House Plus other holdings] , if only 200 have declared their assets. How Govt can know the net financial worth of this town. Even if Govt does not impose wealth Tax on them this declaration will help GDP and Economy. |
