Finance Act 2014

Published October 30, 2014

THIS refers to the Finance Act 2014 wherein a distinction between filers and non-filers has been made for the deduction and payment of withholding taxes from 10pc to 15pc.

However, there are thousands of overseas Pakistanis, dual nationals and foreign nationals or their families and dependants living in Pakistan.

Overseas Pakistanis bring foreign exchange to the country and contribute to programmes such as ‘Qarz Utaro Mulk Sanwaro’. They pay taxes according to the policy of their country of residences and they are non-filers because the sources of their income are outside Pakistan.

In view of the above, the Finance Act 2014 has not clarified their status in terms of deductions/payments of the increased withholding taxes on investments or purchase of vehicles etc.

It would benefit all such people if a clear guideline is issued about this.

Overseas Pakistani
Saudi Arabia

Published in Dawn, October 30th, 2014

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