Dhaka, (Barta24.com): Real-estate and Housing Association of Bangladesh(REHAB) wants reduction of registration cost of flats –plots and the opportunity of investing black money without any question about undisclosed income in the upcoming budget of 2019-20.
On Tuesday (April 16) in the National Board of Revenue (NBR) conference room in the pre-budget discussion Construction and other Industries organizations placed 12 point demand.
The discussion session presided over by NBR chairman Md. Mosharraf Hossain Bhuiyan Bangladesh Steel Manufacturers Association (BSMA), Bangladesh Stainless Steel Manufacturers Association, Bangladesh Cement Manufacturers Association and Steel Building Manufacturers Association representatives were present.
Rehab president Alamgir Shamsul Al Amin said that the registration cost for purchase of flats –plots are being paid at the rate of 14 to 16 percent. Again the same registration cost is being paid for purchasing old flat, which is illogical. He demanded bring down of registration cost to seven percent.
Besides, he demanded introduction of secondary market arrangement by fixing throw away rate of registration cost, the reduction of he income tax rate of the housing entrepreneurs and for allowing undisclosed black money investment in flat-plot business to check money laundering.
Rehab vice- president Liaqut Ali Bhuiyan said that a joint committee of NBR and Rehab was formed and demanded the implementation of the recommendations of that committee.
Admitting the fact that the registration cost is high the NBR chairman said that to bring down the cost, letters will be sent to LGRD& Cooperatives and Law ministries in this regard.
Regarding the investment of undisclosed black money he said that NBR never questioned that but they are to sit with Anti-Corruption Commission(ACC) regarding the matter. Moreover he assured to bring down the tax in importing fire fighting equipments.