And Assets of Imran Khan are...

hanibal · November 10, 2011, 7:07am

Re: And Assets of Imran Khan are…

@Seb
We have 8 kanals to an acre in Punjab.. no argument on that..

@hanibal

Bhai..

Concealment is if instead of 530 kanals he declared 529 kanals. Valuation is immaterial for taxation purposes after the abolition of Wealth tax in Pakistan.

There is something called your right to reduce your taxes using legitimate means provided to you by taxation laws. This is everyone’s right including you and me. If he has not concealed anything, and is managing his returns using legitimate means.. there should be no objection by anyone on that. If prevailing laws do permit him that.. he has all the rights to use any legitimate means to reduce his tax liabilities..

We can debate the tax concessions to agriculture income are not fair. We can also debate that wealth tax should be re introduced. We can debate that we should have no concessions for capital gain. We should change laws to take back these exemptions. But as long as these exemptions exist in the law as a citizen it’s everybody’s right to avail them. I have heard the dawn report two three times to make some sense out of it. I don’t see any concealment from the report.. and if there is any evasion.. you know very well how the tax authorities function is Pakistan. If there is no concealment the evasion is next to impossible.. I think you understand this fact very well..

let’s not try to make an issue out of nothing..!!!

that is what we were trying to discuss here…