Laws and Taxes

Tax Reform Package for Real Estate Industry

Oct 05, 2019

Much Needed Tax Reform to Be Introduced Soon For Real Estate and Construction Industry

We are all aware that the Pakistani economy has taken a downturn and this is an issue that needs to be addressed without any delay. The real estate and construction industry is one of the industries that will help Pakistan’s economy stabilize and grow.

Black Money
Recently in a news show, Mr. Hassan Bakshi Ex-Chairman Association of Builders and Developers Pakistan (ABAD) informed that the government is introducing a Tax Reform Package that will give a boost to the real estate and construction industry.

He mentioned that their discussion with government officials indicated that the builders, developers, and investors do not have any problem with paying income taxes; instead what they want is a streamlined system that eliminates the exchange between the tax payer and tax collector.

Hassan Bakshi
The highlights of this tax reform package will be that financiers will be encouraged to invest in this sector, without much questioning about their financials. The growth of this sector will not only impact the industry, but will also power the growth of more than 70 dependent industries.

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