Lahore Real Estate Forum: Property News & Community Talk : ,

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To all overseas pakistanis : i dont think there are many countries in the world where you can buy a property , sell it im three years at double the price and not pay any capital gains tax. In fact, there are some countries, like US, which require citizens to report and pay capital gains taxes on property sales wherever it is in the world (after deducting any taxes paid in the country whete the property is held). There is no concept whatsoever of non market rates - it is always supposed to be done at non market rates. Dubai is an exception as it has no income or capital gains taxes - this is an attraction of Dubai , which has hardly any indigenous population and needed to give something attractive for the world to come there.

Even in Dubai, there is a 4 percent transfer charge on the actual market value of property at the time of transfer.


As for western countries the rates are much higher.

So please stop crying and applaud a bold and rational step by the governmnet to increase Pakistans tax to gdp ratio.