New tax data shows how hopelessly broken our collection system has become, as collection from the real estate sector crashed by 29% in the first two months of the current fiscal year. The realty sector holds special significance because it is the playground of the rich, and in a country where tax avoidance is a passion of the rich, realty is one of the few areas where they are taxed appropriately.

Realty tax revenue fell by over Rs11 billion year-on-year after the government chose to cut advance taxes on........

© The Express Tribune