Taxation in real estate Business

[Ralphjoe]

The heavy taxation that is accrued to real estate Business is a cause for serious concern, Government has targeted the sector which has resulted in high taxation on real estate properties being taxed so heavily by the government.
As real estate enthusiast, how can we solve or reduce this problem?

 

[Josemendez]

The heavy taxation that is accrued to real estate Business is a cause for serious concern, Government has targeted the sector which has resulted in high taxation on real estate properties being taxed so heavily by the government.
As real estate enthusiast, how can we solve or reduce this problem?

I believe the taxation is usually proportional to size and price of the house. However there is need for government to consider the effect of this high taxation on the real estate owners.

 

[Sariana23]

In my country, real estate taxes depend on the cost and location of the property. until now it is 0.20% of the cost of the house. The above is always and when it is canceled in national currency, otherwise they will have to pay an exorbitant surcharge of enter 5% to 25%.

 

[HIFSA LAHORI]

Yes, just like everything else we have to do in real estate. Sadly there is more to be done. The government must consider this and we the people should not only talk about property tax but also the issue of other taxies.

 

[Mawome]

Well it depends on the type of country you find yourself in, some countries don't really target the owner of real estate business, they will just ask you for their normal commission for example in my country, you only need to settle the development authorities and once you do so you are good to go.

 

[Victor72]

As a real estate investor for you to reduce this high taxation I suggest you have a meeting with the tax agency, the real estate investor should come together and hold this meeting.

 

[GIFTMICHAEL]

If the location of the real estate isn't in a recognised settings or government residential settings. I don't see any task being charged to an estate property, be it land or houses.

 

[Shigobad2020]

The heavy taxation that is accrued to real estate Business is a cause for serious concern, Government has targeted the sector which has resulted in high taxation on real estate properties being taxed so heavily by the government.
As real estate enthusiast, how can we solve or reduce this problem?

The problem of government increasing the tax of the real estate cannot be tackle harshly, the government knows there is enough tax to be taken form real estate business.

 

[Richard92]

There are a lot of taxation that is imposed on real estate investors.this is because the government thinks they make a lot of money and any sector that generate more income has higher taxation.

 

[Alexandoy]

I think the taxation here of real estate is not much and it depends on the city or town assessor. In our suburban town we are paying a minimal real estate tax of about $80 per year. Our home is a modest house built on 280 square meters lot. Property owners also get a 20% discount if the realty tax is paid in advance so I always pay by December so I get a discount.

 

[IamDozzy]

The governments of developing countries should give some kind of tax holiday to investors in real estate for a period of time so as to encourage more investors coming in to the real estate industry.

 

[Richard92]

The governments of developing countries should give some kind of tax holiday to investors in real estate for a period of time so as to encourage more investors coming in to the real estate

It is the fundamental right of every citizen to pay their taxes and real estate owners are not exceptional.

 

[Chibson]

The government believes that anyone who is in real estate is rich and well-to-do. So the heavy exertion comes in and of course the government is looking for ways to raise revenues.

 

[Mostee501]

What is set by the government under law will be extremely difficult to change except amended. The taxes are being set based on the property value rates.

 

[Kelly5]

Taxes I believe are not just placed or fixed on all types of real estates arbitrarily like that. They are placed based on the location and type of real estate in question.

 

[Spicywilfred]

All these are happening because people see real estate business as one of the most profitable business in the world, it is advisable for real estate companies to stand as one and make some negotiation with the government Agency

 

[Trexxxy]

I believe there are means and methods of deflecting these taxes, I don't mean illegally. But within the scope of the law, for small real estate agents and owners, it might be difficult.

 

[Richard92]

I believe there are means and methods of deflecting these taxes, I don't mean illegally. But within the scope of the law, for small real estate agents and owners, it might be difficult.

there is no business in Nigeria that is not been tax this is because as a citizen of a particular country one fundamental rights is to pay tax and real estate is not exceptional.

 

[Setfragil]

Actually government policies of some countries is not favourable to real estate agents. The amounts of taxes required of some real estate business operators is ridiculous and most of them cannot afford it without trying to manipulate their books of accounting records presented to the government.

 

[Richard92]

Actually government policies of some countries is not favourable to real estate agents. The amounts of taxes required of some real estate business operators is ridiculous and most of them cannot afford it without trying to manipulate their books of accounting records presented to the government.

The government always collect tax from real estate investors because they make more in terms of profit and as a citizen of a country one of the fundamental right is to pay your taxes.