Builders and developers cheated government on tax matters

Islamabad, June 06, 2017 (PPI-OT):The Pakistan Economy Watch (PEW) on Tuesday said the builders and developers cheated government on the issue of tax, therefore, an action should be taken against leaders of this sector. Last year government imposed some taxes on this sector which resulted in massive protests after which the leaders of the construction industry assured the government that tax collections would be increased if their demands are accepted, it said.

Subsequently, the government accepted their demand to bring this sector into special tax regime as the builders promised to boost tax collection to 25 billion rupees, said Dr Murtaza Mughal, President PEW. However, the total collection in stood at Rs110 million which was a blow to the FBR, therefore, the special tax regime should be withdrawn and this sector which is plundering masses should be taxed as per prior method, he added.

Dr Murtaza Mughal said that the builders and developers and generating good profits and cheating masses very frequently while flaws in the laws always favour them leaving poor people high and dry. Providing justice to the masses is the responsibility of the government which is not being fulfilled therefore masses have to bribe police to get their lost money back, he noted.

Dr Mughal said that government has also refused facility of refund and adjustment on property transactions that take place during one year and income tax ordinance is being amended for it. He said that FBR should try to expand tax net and spare taxpayers.

For more information, contact:
President
Pakistan Economy Watch (PEW)
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +92-51-2510375
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Email: president@pakistaneconomywatch.com
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