Govt asked to withdraw tax on real estate

PESHAWAR: The Peshawar Property Association on Monday asked the federal government to stop imposing unjust taxes on the real estate business.

Speaking at a press conference at the Peshawar Press Club, a member of the association said that gain tax, two percent tax for filers and seven percent for non-filers on old property and FBR fee collection on the transfer of plot and home would hurt the real estate business.

He said the provincial government had also increased the fees of transfer and registry and raised the stamp duty. He said that these taxes would also affect the builders and labourers associated with the sector.