@hanibal brother, you are not trying to understand the issue here. It’s not a choice the way you declare your wealth statement. Wealth tax has been abolished but you are still required to submit your wealth statement in a prescribed manner.. and you can not declare your wealth statement at present market valuation. You have to do it at the purchase price. I gave you an example of my own case. I would like to declare my wealth statement at present market value to avoid future capital gain tax as today it does not make any difference because there is no wealth tax involved. But I can not do it .. simple.. it’s the law..!!!
When you declare your assets to election commission you have to declare them at present market value when you run for a public office. Simple..
As IK’s criticism is involved, it is not directed against the normal MNA/MPAs who declare their wealth truthfully.. it is particularly directed towards Nawaz Sharif and Zardari.. who have not declared their foreign assets truthfully. We know for sure Zardari has money in hi Swiss accounts.. he has not declared the source of these assets in his tax returns.. Similarly Nawaz Sharif has properties in London and his son is doing a huge business in London.. where are the declaration of the source of investments for these guys..???