Just the part in RED shows you're biased.
Lol. I guess you are comparing it to Sharif. Well, the whole case surrounding Sharifs is that the properties were bought in the 90s, when none of the SHarifs were non residents. Why do you think SHarifs are trying so hard to prove that properties were bought in 2006 and not 1993? Compare apples and apples, not apples and oranges.
Before Mush, the overseas income needed to be declared as well. If tax was paid, then relief was allowed at the same time of filing the return, just like any double taxation treaty.
Please dont make up rules as you go just to negate me. Before or after Musharraf, overseas income generated through overseas sources DOES NOT have to be declared in Pakistan. Any expats working in UAE, Saudi, etc dont need to file taxes in Pakistan. The existence of a NICOP gives you that right.
When you remit money to Pakistan, you do not have to pay tax on that money.
Only when you invest that money in Pakistan and generate income from it, do you have to pay taxes.
And the double taxation treaty between UK and Pakistan exists since the 80s. I posted the relevant laws from FBR somewhere on this forum. I even posted the UK side of the law which is specific to Pakistan. Cant be bothered to search it up.
Your second part with father gifting son a property isn't a good example because IK purposefully used the benami to avoid the tax related to bani gala. I would appreciate him if he pays the taxes due on them today which they aren't because of getting it as a gift.
Not sure if you understood the process. Tax is payable on any property that is retained. As far as taxing the price of a property is concerned, it does not happen in case of a transfer between family members, whether it is in the form of inheritance, or gift. Dont muddle laws that are in place. Its not a good practice.
Secondly, IK always says himself that he purchased bani gala from the sale proceeds of his london flat. The small matter was that he took some "bridging loan" from Jemima because time of sale of london flat and bani gala purchase were not coinciding. That's all acceptable, but when bani-gala shows up as "gift" even today then it all makes it dodgy all over again. IK says that he used proceeds from london flat to purcahse bani-gala, then the price of bani-gala should be shown and not "Rs. 0 (gift)" in his tax returns or ECP papers.
Can you answers this simple thing please?
The contents of your query are oddly funny. I have adequately explained the situation regarding Bani Gala that I believe satisfies me, since I have based my satisfaction on past and current taxation laws in Pakistan, not based on whether I like Imran Khan or not. If it doesnt satisfy you, that is something you have to reconcile with.
But your query is about spending all this time and effort in questioning a transaction that involves no illegal money, and no off the books maneuvering. That makes is oddly funny.
On the other hand, NAwaz Sharif's transactions are all, as accepted by them, 'parchi based', and there are strong allegations of money laundering on them.
Imran is an MNA, while NS is the PM. And you are more focused on the clerical and cosmetic issue surrounding IKs bani gala, as opposed to a person in power, who has definitely misused power and authority to launder money using stolen funds. Salute to your bias. (Now please dont try to wash it off by saying "Nawaz /Zardari are the most corrupt people on earth......but lets talk about Bani Gala." That would just make it more whimsical.)
ANd please, regarding taxation laws, please debate with relevant clauses, not based on what suits PMLNs money laundering. We cant make rules as we go.
I oppose IK fiercely on many other things involving PTI and perhaps even his personal life, but at the end of the day, his personal life is not my business, so I keep it to myself. Politically, I have criticized him on many issues, but one thing I have not found fault with is his financial practices.