The Cabinet’s Economic Coordination Committee (ECC) made three changes on Tuesday to the supplementary budget it presented on September 18, reversing a key directive that once restricted non-filers from buying new cars and property worth more than Rs 4 million.
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Non-filers are people who do not file their tax returns with the Federal Board of Revenue. They include both people who pay tax on their income and those who evade it.
Federal Minister for Finance & Revenue Asad Umar confirmed that the ECC, the top government body that makes key policy decisions, has made amendments to the mini budget, which was presented in the National Assembly last month. The minister has presented the amended finance bill in the assembly today, the 4th of October for approval.
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However overseas Pakistanis will be allowed to buy new cars and new property. In case of inherited property, the beneficiary, such as the a widow, is also exempted from the condition of filing tax returns. This means the property can be transferred to the beneficiary regardless of its value even if he or she is not a filer. The change also allows non-filers to purchase automobiles below 200 cc (engine), such as auto rickshaws and motorcycles.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
