As a Captain’s supporter, i feel disappointed, i think its grossly underestimated.
Rs1.1 Million for a flat in G5! ! The rate of these flats on internet is like Rs30-40 million. What does this gift thing mean??? Why would someone give a nearly 100 acre as gift to Imran??
Now as for NS, i won’t discuss anything, coz i know he is corrupt.
My family has a property in Pakistan, on papers its value is same to when it was bought. It is taxed accordingly, I don't think there is any revaluation of property prices. Anyways the property details are in the open, the media should scrutinise them.
Rs1.1 Million for a flat in G5! ! The rate of these flats on internet is like Rs30-40 million. What does this gift thing mean???? Why would someone give a nearly 100 acre as gift to Imran??
Now as for NS, i won't discuss anything, coz i know he is corrupt.
na ji Pakistan main to sirf PPP walay haram khor hain, Hazrat Imran Khan to haram khori kar hi nahi saktay. Shame on him for lying to taxing authorities to save taxes on looted wealth of Pakistan. What action has he taken on his corrupt ministers? He removed Sherpao people what about his party ministers involved in the corruption? What happened to investigations he was conducting? Did he handed over his corrupt sacked ministers to authorities to prosecute them? Just removing from their positions is not enough.
As a Captain's supporter, i feel disappointed, i think its grossly underestimated.
Rs1.1 Million for a flat in G5! ! The rate of these flats on internet is like Rs30-40 million. What does this gift thing mean???? Why would someone give a nearly 100 acre as gift to Imran??
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Property is taxed at the rate of valuation which is defined by the government itself. When I pay our house tax in Pakistan, the tax bill that I get from the tax dept clearly states the rate of tax that applies to the locality my house is in, and what the area of my house is. The value of the property is determined by the FBR, not by me. And that valuation is done based on an FBR specific formula, which is incremented every year.
Imagine, if property taxes were charged based on market value, then some billionaire could come in and buy the house next to mine for 50 crore. Would that mean that now my house is worth 50 crore as well, and that I should pay 1 crore as house tax on that, even though Im just a salaried individual, as opposed to the guy who bought my next door house, who is a multi billionaire? Inflation in that case would be 1000% or so.
Secondly, inherited property is usually referred to as gifted property, and the inheritor of what may be an expensive piece of land would not necessarily be in a position to pay taxes on that, which is why there is no taxation on inherited property, as opposed to property that is bought.
In any case, Imran Khan's assets are in the open. Media is free to scrutinize and question them, but its unfair to lump it together with feudal landlords from across the country who grab land from the poor, buy their way into the assemblies, and then draft legislation in order to protect their stolen land by waiving all agricultural tax on themselves.
na ji Pakistan main to sirf PPP walay haram khor hain, Hazrat Imran Khan to haram khori kar hi nahi saktay. Shame on him for lying to taxing authorities to save taxes on looted wealth of Pakistan. What action has he taken on his corrupt ministers? He removed Sherpao people what about his party ministers involved in the corruption? What happened to investigations he was conducting? Did he handed over his corrupt sacked ministers to authorities to prosecute them? Just removing from their positions is not enough.
IK's Protest Party has 2nd highest number of tax cheating MPs after PMLN. I hope next he starts protesting in front of his own MNA's houses. :D
In any case, Imran Khan's assets are in the open. Media is free to scrutinize and question them, but its unfair to lump it together with feudal landlords from across the country who grab land from the poor, buy their way into the assemblies, and then draft legislation in order to protect their stolen land by waiving all agricultural tax on themselves.
IK is not a helpless opposition member. They are running KPK. What have they done for land reforms in KPK ? Let me guess nothing.
IK's Protest Party has 2nd highest number of tax cheating MPs after PMLN. I hope next he starts protesting in front of his own MNA's houses. :D
And these holier than though guys blame only PPP for haram khori and corruption. Shame on IK for trumpeting routing out corruption in 90 days before elections. Where is his tsunami and revolution? What happens to his tall claims? Isn't predictions in "Super Permanent Lotay......" two years ago are proving true?
IK's Protest Party has 2nd highest number of tax cheating MPs after PMLN. I hope next he starts protesting in front of his own MNA's houses. :D
Let me get this straight. Asif Zardari gets convicted, and yet you call him innocent. But a media chum takes documents from the FBR and posts the on his newspaper without counter checking, and you want to lop off the head of everyone whose name is on that list?
That list has already been debunked in many forums and talk shows, by different people. And you need to realize the difference between 'paying taxes' and 'filing taxes'.
And these holier than though guys blame only PPP for haram khori and corruption. Shame on IK for trumpeting routing out corruption in 90 days before elections. Where is his tsunami and revolution? What happens to his tall claims? Isn't predictions in "Super Permanent Lotay......" two years ago are proving true?
The really sad part about this list of tax 'defaulters' that Umer Cheema came out with is what Asad Umar said yesterday in a talk show.
Out of the 100 or so names in the list, 10 or so names have been erroneously added, because the reporter did not bother counter checking anything. He just copied and pasted. And since this recklessness of the reporter throws the integrity of the entire document in doubt, the other 90 names, who are actual cheats and defaulters find a convenient cover.
As for KPK, before you see a building, you see a foundation. RTI law, accountability law, police reform, right to services act are all part of the foundation that has ensured that corruption is caught and dealt with. I dont know what else you are looking for.
As for KPK, before you see a building, you see a foundation. RTI law, accountability law, police reform, right to services act are all part of the foundation that has ensured that corruption is caught and dealt with. I dont know what else you are looking for.
I am disappointed by Imran's estimate of his wealth. It is reported that his house in Bani Gala has a ground of about 300 kanals. Even at 1 million per kanal you are looking at 300 million. This is without taking into account the house and any other assets. The valuation should be based on the market value and not some notional figure based on values 20 years ago.
The valuation should be based on the market value and not some notional figure based on values 20 years ago.
Does that seem feasible from any angle? If a developer/investor comes in and buys a huge tract of land in a slum in order to build a plaza on it, would that mean that all his slum neighbors now would be subject to the same tax rate as his plaza is?
Secondly, the valuation is done by FBR, not by the owner of the house. Every home owner who pays property tax on his house receives an annual tax bill from the tax department, which lists the property value of his house based on a realistic formula...as opposed to what the real estate brokers are quoting. The property value quoted by Imran Khan or anyone else in their asset declaration is the value provided by FBR, not one guessed up by themselves.
So long as you havent sold that property, it is not worth the millions and billions as dictated by 'market value'. Its only when you actually go out and sell it, and receive the cash, that you show the addition to your liquid assets, which then would be taxed at the higher logical rate.
Does that seem feasible from any angle? If a developer/investor comes in and buys a huge tract of land in a slum in order to build a plaza on it, would that mean that all his slum neighbors now would be subject to the same tax rate as his plaza is?
IK is not living in slums, near slums nor is he he a slum dweller, but in prime restate in suburb of Islamabad. He should be paying taxes according to what the value of his property is. What is fair is fair...especially when you never missed an opportunity to criticize the system/govt for corruption, yet take advantage of the very same system when it benefits you. Its a question of credibility.
As per Pakistani tax laws, property is required to be disclosed at cost, not at FMV (Fair Market Value), in Wealth Statement to be filed alongwith the Return of Income. G5 flat might have been purchased many years back, when its cost was around Rs 1.1 Million. Tax Laws doesn’t require you to report your assets at FMV, when prices increase substantially.
There is no Income Tax payable on immovable property (including flat) owned by a person. Even, latest introduced Income Support Levy is applicable on value of moveable property (which include vehicles, jewelery, cash, furniture, etc). So, I don’t see any tax evasion in this case
As per Pakistani tax laws, property is required to be disclosed at cost, not at FMV (Fair Market Value), in Wealth Statement to be filed alongwith the Return of Income. G5 flat might have been purchased many years back, when its cost was around Rs 1.1 Million. Tax Laws doesn't require you to report your assets at FMV, when prices increase substantially.
There is no Income Tax payable on immovable property (including flat) owned by a person. Even, latest introduced Income Support Levy is applicable on value of moveable property (which include vehicles, jewelery, cash, furniture, etc). So, I don't see any tax evasion in this case
Comparing Imran Khan to Ppp and Pmln haram khors. IK is a saint if you do. Forget saint maybe even a prophet.
Such is the tragedy of our jahil nation it is stupid and ignorant beyond belief.
IK is not living in slums, near slums nor is he he a slum dweller, but in prime restate in suburb of Islamabad. He should be paying taxes according to what the value of his property is. What is fair is fair...especially when you never missed an opportunity to criticize the system/govt for corruption, yet take advantage of the very same system when it benefits you. Its a question of credibility.
Your criticism is misdirected and quite hollow. If you have an issue with how Imran's bani gala farmhouse is valued, you should take it up with FBR, not Imran Khan, as it is the FBR that values properties across the country. FBR does not rely on home owners to tell them how much their house costs.
How is Imran taking advantage of the system by paying taxes that he is being asked to pay by the FBR itself? How does a tax paying individual compare to tax cheaters, whose assets have grown by 1000 times over the past 5 years?
Its understandable that the opposition would try every dirty trick in their book to try and bring IK down, but financial discredit is certainly not one way of succeeding in that. It is because of his fiscal transparency that Shaukat Khanum Hospital has yet again managed to fill its huge budget of almost Rs 6 billion by donations alone. Thats saying a lot for the kind of trust people have in him.