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Don’t kick a man that is already down; real estate sector appeals to Kasaija over 2020/21 proposed taxes Real estate is a fundamental sector of every nation’s economy. How affordable rental prices are, influences the cost of doing business for many other sectors such as tourism, trade and retail and services. In this letter, to Hon. Matia Kasaija, the Finance Minister, Dr. Sudhir Ruparelia, the Founder and Chairman of the Ruparelia Group, the country’s largest property developers and owners, invites the finance minister to revisit certain clauses in the proposed Value Added Tax (VAT) and Income Tax bills 2020, saying they will have adverse effects on the real estate sector in the country and therefore a knock-on effect on the economy as a whole.
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