{"id":86744,"date":"2022-06-20T14:33:15","date_gmt":"2022-06-20T09:33:15","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86744"},"modified":"2022-06-20T14:33:21","modified_gmt":"2022-06-20T09:33:21","slug":"amnesty-non-transferable-assets-of-nrps","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/amnesty-non-transferable-assets-of-nrps.html","title":{"rendered":"Amnesty scheme approved for non-transferable foreign assets of NRPs"},"content":{"rendered":"\n<p>Islamabad: The Senate Standing Committee on Revenue on Saturday (June 18) approved the amnesty scheme for all undeclared and non-transferable assets held by citizens in foreign countries, news sources reported. The committee has also withdrawn the exemption from capital gains tax on the transfer and purchase of non-transferable lands held by retired and serving army officers, the FBR, and all other government employees.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-ending-tax-amnesty-industries.html\" data-type=\"post\" data-id=\"86454\" target=\"_blank\" rel=\"noreferrer noopener\">Finance Bill 2022: Govt mulls ending tax amnesty scheme for industries<\/a>\u00a0<\/p>\n\n\n\n<p>As per the scheme, non-resident Pakistanis (NRP) would be able to make their undisclosed properties, plots, bungalows, plazas, shops, farmhouses, foreign bank accounts, investments and shares of foreign companies, vehicles, jewels, and jewelry legal by paying 1% tax of the assets\u2019 total value. Similarly, non-resident Pakistanis will have to pay a 1% <a href=\"https:\/\/www.zameen.com\/news\/government-announce-flat-5-property-capital-rs5-million.html\" data-type=\"post\" data-id=\"76962\" target=\"_blank\" rel=\"noreferrer noopener\">capital value tax<\/a> on declared properties held in Dubai, London, and New York.\u00a0\u00a0<\/p>\n\n\n\n<p>Moreover, the committee approved the FBR&#8217;s request to increase the <a href=\"https:\/\/www.zameen.com\/news\/advance-tax-sale-purchase-immovable-property.html\" data-type=\"post\" data-id=\"78813\" target=\"_blank\" rel=\"noreferrer noopener\">advance tax<\/a> on the purchase and sale of property from 1% to 2% for filers and 5% for non-filers in the Finance Bill 2022-23. Furthermore, the committee approved the government&#8217;s proposal for the next fiscal year to increase the automobile registration fee by 100 % for non-filers.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-imf-extension-amnesty.html\" data-type=\"post\" data-id=\"76950\" target=\"_blank\" rel=\"noreferrer noopener\">Govt urges IMF for extension of construction amnesty scheme<\/a><\/p>\n\n\n\n<p>The federal government has suggested increasing the tax on automobile purchases for non-filers from 100 % to 200 % in Finance Bill 2022-23. According to the FBR chairman, the government is imposing additional taxes on non-filers to improve documentation of the economy and tax collection.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Senate Standing Committee on Revenue on Saturday (June 18) approved the amnesty scheme for all undeclared and non-transferable assets held by citizens in foreign countries, news sources reported. The committee has also withdrawn the exemption from capital gains tax on the transfer and purchase of non-transferable lands held by retired and serving army officers, the FBR, and all other government employees. Read: Finance Bill 2022: Govt mulls ending tax amnesty scheme for industries\u00a0 As per the scheme, non-resident Pakistanis (NRP) would be able to make their undisclosed properties, plots, bungalows, plazas, shops, farmhouses, foreign bank accounts, investments and shares of foreign companies, vehicles, jewels, and jewelry legal by paying 1% tax of the assets\u2019 total value. Similarly, non-resident Pakistanis will have to pay a 1% capital value tax on declared properties held in Dubai, London, and New York.\u00a0\u00a0 Moreover, the committee approved the FBR&#8217;s request to increase the advance tax on the purchase and sale of property from 1% to 2% for filers and 5% for non-filers in the Finance Bill 2022-23. Furthermore, the committee approved the government&#8217;s proposal for the next fiscal year to increase the automobile registration fee by 100 % for non-filers. Read: Govt urges&hellip;<\/p>\n","protected":false},"author":84,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[52772,52771,52774,52773],"persona":[],"class_list":{"0":"post-86744","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-amnesty-for-land","9":"tag-amnesty-for-non-transferable-foreign-assets-of-nrps","10":"tag-government-amnesty-scheme","11":"tag-land-amnesty-scheme","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Amnesty for non-transferable foreign assets of NRPs- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Senate Standing Committee on Revenue on Saturday (June 18) approved the amnesty scheme for all undeclared and non-transferable assets held\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/amnesty-non-transferable-assets-of-nrps.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amnesty for non-transferable foreign assets of NRPs- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Senate Standing Committee on Revenue on Saturday (June 18) approved the amnesty scheme for all undeclared and non-transferable assets held\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/amnesty-non-transferable-assets-of-nrps.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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