What’s stopping them?

October 30, 2023

This refers to the news report ‘Proposal to abandon DC, FBR rates for real estate transactions’ (Oct 27). It says, “The market rate (the actual rate at which transactions are happening in the real estate market) is roughly 5 to 10 times higher than the DC rate and 2 to 4 times higher than the FBR rate.”

The question is: why is the FBR reluctant to recover taxes on the actual rates? Is it because some property owners are serving or retired government officials?

Shakir Lakhani