The Federal Board of Revenue (FBR) provided big relief to overseas Pakistanis and announced a procedure to grant them a tax exemption on the purchase of property in Pakistan.
Now, after the abolishment of Sections 236 and 236-K, the physical presence of overseas Pakistanis is not mandatory. All overseas Pakistanis can temporarily generate a PSID code by themselves and will forward the same to the relevant chief commissioner of inland revenue through email.
The relevant commissioner will verify the status of non-resident Pakistanis through NICOP and will approve it on merit. After getting a nod from the commissioner, all overseas Pakistanis will avail themselves of tax exemptions worth millions of rupees for the purchase of property in Pakistan.
It is necessary to mention here that Federal Tax Ombudsman (FTO) Dr. Asif Mehmood Jah already directed the Federal Board of Revenue (FBR) to refund taxes to overseas Pakistanis.—NNI
FBR directed all chief commissioners of inland revenue to complete processing all cases of overseas Pakistanis in a single day.
FBR has also written a letter to all chief commissioners in this regard.—NNI
