Non-filers allowed to purchase vehicles, property

KARACHI:  Federal government through the Finance Bill (Amendment) 2018/2019 has allowed non-filers of income tax returns to purchase immovable properties and motor vehicles.

The non-filers were restricted in the budget 2018/2019 to purchase immovable property above Rs5.0 million and purchase of any engine capacity motor vehicles from Tax Year 2019 and onwards.

Finance Minister Asad Umar presenting the amendment bill said that complaints had been received from overseas Pakistanis regarding difficulties in investing in immovable properties and purchase of motor vehicles due to the said restriction, as overseas Pakistani usually do not file returns.

The previous government through budget 2018/2019 imposed this restriction to increase the number of return filers for documentation of economy.

Former Finance Minister Miftah Ismail said the present government had caved in to the pressure of auto assemblers. He said PML-N government also faced this pressure but sustained it maintained this restriction.

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