Dear LRE Team
I am an Expat and in the process of buying a property in Bahria Town. As part of the transfer cost, the agent has introduced me to "Advance Income Tax" of 1% incase I have NTN and 2% incase I don't have NTN. My question is that whether this is applicable to Expats, who don't live and work in Pakistan and second how this calculated. My agent has told me that it will be 104,000 as 1%, so I suppose for me will it be 208,000 being the 2%.
Please reply.
Aman
AH replied on Tuesday, May 12, 2015 02:56 PM
If one is not living and working in Pakistan the how can get NTN no. Secondly we already have huge cobtribution in Pakistan by sending money to Pakista. I heard many taxes are being implemented on property in new budget. |
Abu-Bakar replied on Tuesday, May 12, 2015 03:44 PM
@AH Overseas Pakistani can have NTN.
If some one is tax payer and then moved to overseas.
@ Amna, There were some news of tax exceptions for overseas Pakistanis in last year's Fed budget. But I guess you need to check with CBR and see what does they say...
http://www.fbr.gov.pk/help.aspx
NOTE: Always go to the "SOURCE" if you need any information,else You will get second hand info, it might be outdated or incorrect. |
