One of the most key things that have to be done is to hide true accounts of the business. The people who do nine to five jobs are the ones that tax is usually collected from; Things such as these have left certain governments in a sticky situation. Their approach to this problem was by the Federal government which took things into their own hands and told the provincial governments that they should levy their taxes on capital gains from real estate.
Two particular governments which are Punjab and Sindh would support this gesture but the only way that will happen is if the federal government drops the current capital gain tax value on real estate. Certain governments like the one's of WWFP and Baluchistan are very much against the motion to drop the prevailing tax on real estate, that feel that this particular tax should never be withdrawn neither replaced. The Government in control of this tax called a meeting with the various provinces and there was a point raised by Sindh that the power of the tax from levying should not be collected by the tax collectors but instead it should be levied determining the market price for any particular property.
These market prices should be reviewed and updated every year, the representative also raised the issue of making inheritance transfers have none of this tax. The representatives from NWMP whom also spoke stressed on their point that the tax should remain as they don't see anything wrong with it at this present time.
No comments:
Post a Comment