Post:
I really appreciate fast successful meetings our FBR Team, Mr. Haroon Akhter and Minister for current Tax Policy. Why did not this respected management utilizing goby from other countries like Europe, Australia, USA or Canada. Currently the discussion concludes that Black Money (OVERSEAS HALAL EARING) becoming issue day by day and it will effect drastically to Overseas Pakistani. A small change in system can resolve many issues and will give best conversion and usage of “WHITE MONEY”
I will feeling itchy and uncomfortable by giving the example of India our neighbor where all overseas Indian have one NRIs (Non Residence Indian) account (NRE), which is using very efficiently and effectively in-country and no BLACK and WHITE concept for overseas workers. Our Management can take other country best goby.
Non Residence Overseas account lets Overseas Pakistani transfer Our earnings to Pakistan conveniently with complete security in “WHITE” mode.
Features & Benefits: (1.) Free transfers of funds freely between Pakistan and abroad. (2.) Pay ZERO tax on the interest earned on your Non Residence Account in Pakistan
Accessibility: (1.) Withdraw cash easily and shop worldwide with International Debit Card. (2.) Appoint a mandate to operate your account for you
Managing your account: (1.) Transfer your funds freely to any place outside Pakistan. (2.) Conduct transactions securely online, 24x7 with Net Banking . (3.) Other benefits of Pay utility bills, Cheque books, sage deposit lockers same typical.
To transfer money to your NR Overseas account, we can: (1.) Transfer funds from abroad in a freely convertible foreign currency (2.) Present foreign currency notes / traveler’s cheques brought in by us on your visit to Pakistan. (3.) Directly remit the amount to Pakistan bank from your overseas bank account. (4.) Transfer funds from an existing Non Residence Overseas Account held in other banks in Pakistan.
Now when one overseas will use this amount purchasing the property by paying from his overseas account the money will be always WHITE and no need to worry to overseas employee as well as FBR. It will save a lot of time and work very professionally.
Best Regards,
Rehan Ahmad
Habib replied on Monday, July 25, 2016 03:32 AM
I 100% agree with Rana, there should be NRP account Like in India NRI account, It works like Legal off Shore account and helps that Country,
Honestly I have to transfer money in Pakistan from UAE but looking for Off Shore account as I don't know where my Kids Need this Money In future, UK Canada or Somewhere else. From Pakistani account it is difficult to transfer Money out though not impossible,
I will appreciate if Govt can establish NRP account of same or even more functionality than NRI account. It will be a great help for overseas people and Pakistan itself.
Already Govt initiative for Pakistan origin Card have helped a Lot many overseas Pakistanis, They can still fell they are in Home and buy property and Come anytime when they want.
I will ask Forum Members if they have experience in transferring Money out of Pakistan from Foreign Currency Account, what are the regulations? and How lengthy is Process?. |
Arif M® replied on Monday, July 25, 2016 05:35 AM
Good points. But this is PMLN'S Pakistan that is run by businessmen. Unlike India where Politicians run the country. Not businessmen. |
Dude replied on Monday, July 25, 2016 08:02 AM
I think, a good businessman can be a good politician as well, and I don't see any problem in PML (N) regime's being business entity. I also have no problem if India's business community didn't get any opportunity to get into politics or rule their country. Being a common man having no political affiliation with any one in any context, I believe, good job done by anyone must be acknowledged and criticism for the sake of criticism is no criticism, therefore, must be avoided. |
Arif M® replied on Monday, July 25, 2016 08:39 AM
A good businessmen will ALWAYS keep his own business interests at top. and that is what Nawaz is doing. Sacrificing country on his personal business interests. With India, KSA and Turkey. Whereas our Finance minister Ishaq Dar has business interests in Dubai real estate. When you elect businessmen to rule you then you get sudden change in policies just 2 days before budget approval (policies kept secret again to safeguard their own business interests.) If we go back to Nintees we know that same businessmen rulers made special laws for for 2-3 days just so can take advantage of them. Thats what you get with businessmen rulers. |
AHMAD HASSAN® replied on Monday, July 25, 2016 09:04 AM
Asad Kkaral on THALKA TV reporting that current property taxes are part of specific planning. Read details here.
http://tehlka.tv/ur/2016/07/17/%D9%BE%D8%A7%D9%86%D8%A7%D9%85%DB%81-%D9%84%DB%8C%DA%A9%D8%B3-%D9%86%D9%88%D8%A7%D8%B2%D8%8C%D8%B2%D8%B1%D8%AF%D8%A7%D8%B1%DB%8C-%D8%AE%D9%81%DB%8C%DB%81-%DA%88%DB%8C%D9%84-%D9%85%D9%86%D8%B8%D8%B1/ |
FAA.awan replied on Monday, July 25, 2016 10:20 AM
It is dirty politics by Nawaz league .Nawaz and party are taking revenge from real estate investors.Nawaz league is a dull and narrow minded party.Do n't worry they have failed ,at last property business will be a winner. |
