FBR reveals tax details of PM Imran, Shehbaz Sharif and Bilawal

[crankthatskunk]

If PM Imran Khan pays taxes amounting to only $1,314 ($1,700) when his declared assets are valued over Rs 3.8 billion as of June 2018, then he's not really setting a good example.

A question to PTI supporters.

Any particular reason why the PTI website has stopprd uploading PM Imran Khan's declared assets since he became Prime Minister?

OK, let me point this out to you my friend. Having assets , which were historical and have increased in value over time, is not the same as having sources of income during a given tax year.
The income tax is paid for the sources of income during that tax year, not on the assets you own. Unless those assets are generating income.

It happens all over the world. Let me give you a hypothetical example in the UK, same is true for other European countries where social welfare systems exists. USA is slightly different.

For example, if you own a large family home, lets say it is worth £1.5 million. So on paper you are rich, because you have an assets worth that much, putting you in millionaire category.

But you are out of a job, or are ill, or are a pensioner. In either of these conditions, you may be paying no tax at all. Instead you would be getting benefits to survive.
Even for Property Tax which is known as council tax, you can get 100% rebate if your income is Nil.

I hope you understand how it works.

 

[SD 10]

After a few incidents in Pakistan my family sold all assets in Pakistan and moved the funds to the US to invest. We don’t have time to deal with land mafias and nonsense like that. My family back home is pretty rich and same as in the states — the tax on my house alone is 25K per year and add another 50K on income after maximizing deductions; and this doesn’t take into consideration the remaining rental properties and few gas stations we own that are taxed.

Pakistan system is screwed up.

Yeah!! Better to move out!

 

[ziaulislam]

Out of the voting people majority voted for people who they know were corrupt to the core but they were still fine with it..
Be it mualana, PPPP or PMLN and in many cases PTI electibles
the three allied parties secured 50% of that votes (PPP, PMLN, JUI)

 

[WarKa DaNG]

Time for the FBR to stop measuring dicks

 

[volatile]

Interesting Hammad Azhar who kept on giving lectures on TV about business paid 22,000 Rs Tax in income individually . They are some true double faced people .

Where as 59 Million paid inhead of AOP (assosciation of person) interestingly in AOP individual is exempted from tax

 

[El Sidd]

Progressive politics. Government is leading by example.