The Real Estate and Housing Association of Bangladesh on Saturday asked the government to decrease the taxes at source for registration of flats, buildings or land by real estate developers.
Leaders of the REHAB at a press briefing said that the budget for FY2011-12 proposed to increase tax at source for commercial spaces by 10 times in a period when the real estate sector was suffering depression.
'After the government hiked tax at source this fiscal year, the registration of flats has come down to almost zero. So any hike in tax will harm us. We demand that the government decrease the tax for registration of both residential and commercial spaces,' said REHAB's vice-president Syed Nazrul.
'We real estate entrepreneurs want to work in tandem with the government to solve our people's housing problems. If we have to give such a large amount of tax at source, it will be very difficult to carry on the real estate business,' he told reporters.
REHAB's vice-president Abdur Rahim Khan and general secretary Murad Iqbal Chowdhury were also present at the press conference.
Source: New Age
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