LCCI calls for soft taxation regime

LAHORE: Real estate players have sought the help of the Lahore Chamber of Commerce and Industry (LCCI) for the revival of their dying businesses.

A delegation of Estate Agents Association, led by the Federation of Realtors Pakistan President Rafiq Hasrat, called on LCCI President Malik Tahir Javaid on Monday and informed him of the issues being faced by the real estate sector.

The delegation informed the LCCI president that heavy taxation has affected the real estate sector badly, which is not only an important source of revenue for the government but is also providing direct or indirect employment to millions of people.

He said that the real estate sector could generate huge revenue for the government once it is declared as an industry. He demanded reduced taxes on services of real estate agents as they are already overburdened by Federal Board of Revenue (FBR) taxes, which result in less collection.

Speaking on the occasion, LCCI president said that real estate is an important sector of the economy, which should be protected through favourable policies and soft taxation regime. He said that this not only attracts local investors but also expatriates and overseas Pakistanis.

Published in The Express Tribune, January 16^th, 2018.

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