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Ban on purchase of property & vehicles for non-filers will continue: Asad Umar

ISLAMABAD: Minister for Finance and Revenue Asad Umar has said the ban on purchase of property and vehicle for non-filers will continue.

In reply to a question asked by of MNA Shazia Sobia and Aslam Soomro in the National Assembly, the finance minister explained that through Finance Act, 2018, National Assembly introduced Section 227-C in the Income Tax Ordinance, 2001 whereby non-filers have been restricted from booking, purchase or getting registered of a new locally manufactured motor vehicle or an imported vehicle not registered yet.

He said any authority or person responsible for registration, recording or attesting the transfer of an immovable property exceeding Rs50 million have also been restricted from accepting or processing application of non-filers for registration, recording or attesting the transfer of such property.

However, motorcycle having engine capacity of 200CC motorcycle, rickshaw, agriculture tractor or any other motor vehicle having engine capacity of less than 200CC; a person holding a national identity card for overseas Pakistani who produces a certificate from a scheduled bank of receipt of foreign exchange remitted from outside Pakistan through normal banking channels during a period of sixty days prior to the date of booking, registration or purchase of a motor vehicle or registering, recording or attesting the transfer of an immovable property; and a legal heir acquiring an immovable property in inheritance, have been excluded from the purview of aforesaid restriction.

2018-12-11
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