The government has allowed overseas Pakistanis to purchase property in the country and those who are acquiring property through inheritance. Earlier the government placed the condition that only overseas tax-filers can purchase property in Pakistan. But now it has been removed. The condition that was imposed by previous government increased issues for overseas Pakistanis.
The decision has been taken that the restriction placed for non-filers on the purchase of property exceeding Rs5 million will not be applicable for legal heirs who are acquiring the property through inheritance.
Also, the condition of being a filer will not be applicable to those Pakistanis who can show a certificate from a scheduled bank that verifies the receipt of foreign exchange of ‘remitted from outside Pakistan through normal banking channels during a period of 60 days prior to the date of registering’.
Moreover, the government introduced penalties upon the local automakers of Pakistan, along with excise, taxation department and relevant authorities to effectively implement restrictions on non-filers to buy & sell properties and cars. If any application of a non-filer is accepted or processed the local automaker will have to pay a penalty of 5% of the value of the motor vehicle and the excise and taxation department will pay 3% penalty of the value of motor vehicle.
Media coordinator and junior editor at Research Snipers RS-NEWS, I studied mass communication and interested in social, local and community issues, I have 3 years experience in the media industry.