In the light of the latest Finance bill, Overseas Pakistanis are feeling reluctant to send money to Pakistan as each & every transaction will be taxed. Especially non-resident Pakistanis (NRPs) are obviously non-filers thus will fall in the 0.6% category, both in & out.
Remittance to Pakistan will be badly affected & thus property gains will disappear. It seems that that the business community, overseas Pakistanis & the common man (including housewives, widows, retired , poor farmers, etc.) will face unwarranted burden of taxes withheld at their day to day banking transactions.
Real estate businesses will also be much affected. These days overseas are trying to seek other avenues of investment as these pathetic activities will not attract investment from NRPs at least.
Long live Pakistan.
