Tax Free Living in Pakistan

[yazdi]

Re: Tax Free Living in Pakistan

@kakaballi

Not saying that Nawaz Sharif is not evading taxes. Obviously, one wouldn’t pay taxes on illegal or black money.

Just saying that if he claims his only source of income as dividends or salaries from his companies, he does not have to PAY income tax with annual return. The annual return should show the amount of tax already deducted from dividends or salaries but no cash payment with the annual return is required. If he does not PAY any tax in cash with the return, is does not mean he did not pay any tax during the year.

Is that right?

If he has paid taxes on dividends, salaries from his companies it would reflect in his tax return. His tax return does not show any of these prepaid/post paid taxes. It doesn’t matter if the tax was deducted at source or post paid…

KB, it’s very difficult to defend our leaders as far as their financial matters are concerned.

Same is the case with Zardari. He has proven bank accounts with over billion dollars with no known source of income where the tax was paid any where in the world.

In any other country tax authorities would ask both these individuals together with their families to provide the source of income and record of the tax paid may be any where in the world. Here it would be called political victimization..