Property dealers protest against heavy taxation

KARACHI: Representatives of the real estate sector have staged a protest against the imposition of heavy taxes on the sector, ARY News reported on Saturday.  

According to details, the Defence Clifton Real Estate Agents Association protested against the imposition of heavy taxes on property and rejected the Budget 2022-23,

“The federal government has doubled the taxes on property in this year budget,” the association said, adding that it would be difficult for the real estate agents to carry out their business.

Zubair Baig, the association’s representative, warned that thousands of people associated with the real estate business will lose employment. He further criticized the rulers and said that the government was collecting cruel taxes.

The association said that real estate is a dynamic sector and has the ability to attract huge foreign investment but because of heavy taxation, it is facing catastrophe-like circumstances and struggling for survival.