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Ignored points in negotiations by ABAD,

(104533)
   Abdullah®
Tuesday, August 2, 2016 05:54 AM 
Reply: >
I have compared old and new tax rates for seller/purchaser!

I would request respected CMY, Jameel Mughal, Habib sb, Ahmat and other experts to compare the current and previous rate.

In my opinion, ABAD has just focused on CGT and ignored other taxes like WHT and advance tax for seller and all other taxes for purchaser (They also got per sq feet tax on constructed homes :p ) This is because only big fishes are present in ABAD. This is what dealers and small/medium investors like me need to understand and protest against. More tax whether it is on seller or purchaser will reduce the number of transactions in all societies and prices would halt.
Arslan replied on Tuesday, August 2, 2016 12:51 PM 

very handy, good work...i was trying to build this table since new rules announced.
Overseas Pakistani replied on Tuesday, August 2, 2016 01:56 PM 

In that way..taxes now are really high and much more than last year...these are valid points that if now most of the taxes will be collected on fair market value also with much increased %age then the previous year in which less % of tax was applied on DC rates
Now tax %age increased as well as assessment value of the property also increased, I don't know how real Estate representatives accept this proposal in the meeting or these representatives did not have done there homework before meeting or they were incompetent ...

You are right Mr.Abdullah,it should be highly protested by the dealers...
AHMAD HASSAN® replied on Tuesday, August 2, 2016 02:32 PM 

One month before, no one was talking about taxes in market as well as on this forum. In fact responsibility of an estate agent is till transfer of land that includes to guide one on CVT, Stamp duty, WHT etc. They ve nothing to do with CGT or any other tax after that. That is purely responsibility of seller to pay after selling by the end of fascial year on actual profit or one can ignore it as usual. But FBR value canot be linked with CGT and to conclude that one is not liable to pay tax in same year if FBR value is not changes. This understanding or perception is wrong. Whenever funds will be credited to ones bank account, FBR will ask source and enforce taxes. Much better consult with a lawyer or legal adviser to handle this smoothly and don't put this responsibility on dealers shoulders. But we begin to live till we r fit to die. I don't know prices will go up or down, but transaction should start and will go normally based on supply & demand mechanism . ضرورت کی چیز کبھی مہنگی نہیں لگتی
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