Publish : 19 Dec 2021, 09:36 PMUpdate : 19 Dec 2021, 09:36 PM
Real estate association said a good amount of money was invested in buying homes during the pandemic which would have otherwise been invested abroad in places like Canada or Malaysia.
Real Estate and Housing Association of Bangladesh (REHAB) Vice-President (Finance) and fair standing committee Chairman Mohammad Sohel Rana said at a press conference at the Pan Pacific Sonargaon Hotel in the city on Sunday.
Mohammad Sohel Rana said: “This has helped the sector withstand the impact of the pandemic.”
Mohammad Sohel Rana said that the current government under Prime Minister Sheikh Hasina gave some incentives to the real estate sector that also helped the sector survive the pandemic.
Mohammad Sohel Rana said a good amount of Tk20,600 was invested in the real estate sector during year 2020-21.
An estimated Tk20,600 crore worth of black money was whitened in the fiscal year 2020-21, as nearly 12,000 taxpayers took advantage of the government policy.
The National Board of Revenue (NBR) revealed last year, adding that it received Tk2,000 crore in additional revenue as a result.
Black money whiteners consisted of doctors, government officials, readymade garment exporters, bank directors, gold traders and several others.
More than 60% of them declared undisclosed amounts with 10% tax on various bank deposits; fixed deposit receipts (FDRs), savings certificates or cash.
According to the NBR, between July 2020 and June 2021, 11,859 people bought shares from the stock market, or purchased property to whiten their undisclosed wealth.
The government has allowed the citizens to whiten their black money by giving 10% tax on disclosed properties.
Individual taxpayers between July 1, 2020 and June 30, 2021 took the opportunity to disclose any type of undisclosed property by paying a certain tax per square foot; declare undisclosed cash, bank deposits, savings certificates, shares, bonds or any other securities by paying a 10% tax; and invest money in the capital market by paying 10% tax on the value of the investment.
He also demanded a revision of the proposed Detailed Area Plan (DAP) of the RAJUK that they claim will only raise the property prices.
“Prices of many construction materials, including rod and cement, have gone up and so, the prices of flats may increase in the near future,” he said.
A five-day long winter fair of Real Estate Housing Association of Bangladesh (REHAB) will begin at Bangabandhu International Conference Center (BICC) in the city from December 23.
A total of 220 stalls, highest ever since 2013, will participate in this fair.
The exhibition will remain open from 10am to 9pm every day and end on December 27.
Commerce Minister Tipu Munshi will inaugurate the exhibition as the chief guest
Rehab Vice-President and fair standing committee co-chairman Kamal Mahmud, Vice-President-2 Md Anwaruzzaman were present on the occasion.
Rehab exhibition begins at BICC on Dec 23
Real estate association said a good amount of money was invested in buying homes during the pandemic which would have otherwise been invested abroad in places like Canada or Malaysia.
Real Estate and Housing Association of Bangladesh (REHAB) Vice-President (Finance) and fair standing committee Chairman Mohammad Sohel Rana said at a press conference at the Pan Pacific Sonargaon Hotel in the city on Sunday.
Mohammad Sohel Rana said: “This has helped the sector withstand the impact of the pandemic.”
Mohammad Sohel Rana said that the current government under Prime Minister Sheikh Hasina gave some incentives to the real estate sector that also helped the sector survive the pandemic.
Mohammad Sohel Rana said a good amount of Tk20,600 was invested in the real estate sector during year 2020-21.
An estimated Tk20,600 crore worth of black money was whitened in the fiscal year 2020-21, as nearly 12,000 taxpayers took advantage of the government policy.
The National Board of Revenue (NBR) revealed last year, adding that it received Tk2,000 crore in additional revenue as a result.
Black money whiteners consisted of doctors, government officials, readymade garment exporters, bank directors, gold traders and several others.
More than 60% of them declared undisclosed amounts with 10% tax on various bank deposits; fixed deposit receipts (FDRs), savings certificates or cash.
According to the NBR, between July 2020 and June 2021, 11,859 people bought shares from the stock market, or purchased property to whiten their undisclosed wealth.
The government has allowed the citizens to whiten their black money by giving 10% tax on disclosed properties.
Individual taxpayers between July 1, 2020 and June 30, 2021 took the opportunity to disclose any type of undisclosed property by paying a certain tax per square foot; declare undisclosed cash, bank deposits, savings certificates, shares, bonds or any other securities by paying a 10% tax; and invest money in the capital market by paying 10% tax on the value of the investment.
He also demanded a revision of the proposed Detailed Area Plan (DAP) of the RAJUK that they claim will only raise the property prices.
“Prices of many construction materials, including rod and cement, have gone up and so, the prices of flats may increase in the near future,” he said.
A five-day long winter fair of Real Estate Housing Association of Bangladesh (REHAB) will begin at Bangabandhu International Conference Center (BICC) in the city from December 23.
A total of 220 stalls, highest ever since 2013, will participate in this fair.
The exhibition will remain open from 10am to 9pm every day and end on December 27.
Commerce Minister Tipu Munshi will inaugurate the exhibition as the chief guest
Rehab Vice-President and fair standing committee co-chairman Kamal Mahmud, Vice-President-2 Md Anwaruzzaman were present on the occasion.
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