ISLAMABAD: PTI government makes an offer to overseas Pakistanis.
Special Assistant to the Prime Minister on Overseas Pakistanis and HumanDevelopment Zulfiqar Bukhari Saturday invited overseas Pakistanis to takeadvantage of the Assets Declaration Scheme-2019 and help develop Pakistanby purchasing property here.
“The exchange rate in Pakistan is good for overseas Pakistanis for theirinvestment as dollar and pound are strong,” Zulfiqar Bukhari said in amessage on the Assets Declaration Scheme.
He said it was a good opportunity for overseas Pakistan to clean theirbusiness here and asked them to fill their declaration form without anyhesitation and make themselves part of the scheme.
Clarifying about eligibility for overseas Pakistanis for the scheme, hesaid only those expatriates, who spent over 183 days in Pakistan, couldbecome tax filers and eligible to fill the assets declaration form to provetheir expenditure to show income and declare assets.
He added all those overseas Pakistanis, who spent less than 183 days inPakistan and live abroad and their income was also in foreign countries,could declare anything in assets declaration form, if they made any incomeor profit in Pakistan from business or property.
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All such overseas Pakistanis, who did not pay any tax on such income, couldnow pay old tax of last six years, he added. “There is no need for them totell anything here about their businesses in other countries.”
He said it was the best opportunity for overseas Pakistanis to declare suchundeclared property or business in Pakistan under the scheme, which waspurchased from money earned abroad and it was sent without bankingchannels.
He assured that they would not be asked to share information about thebanking or non banking channels for using money to purchase any suchproperty in Pakistan. There would be separate tax on sale or rent of suchproperty, he added.
He made it clear that only such property would be taxable, which waspurchased in Pakistan or having any income or profit from such property forthe last six years period while property of overseas Pakistanis in abroadwould not be taxable.
