ISLAMABAD: Non-filers of income tax returns have been allowed to purchase immovable properties and motor vehicles as proposed on Tuesday through Finance Bill (Amendment) 2018/2019.

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

Finance Minister Asad Umar on the floor of house presented amendment to Finance Act 2018 and said that complained had been received from overseas Pakistani regarding difficulties in investing in immovable properties and purchase of motor vehicles due to restriction.

The finance minister said that overseas Pakistanis were mainly non-filers and considering the hardship faced by them it was decided to lift the condition.

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

 

Source www.pkevenue.com

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