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Business Recorder
3 days ago
- Politics
- Business Recorder
PARTLY FACETIOUS: The profundity of filial sentiment
'I can't understand the logic behind the move.' 'You don't need logic but understand filial sentiment as far as the decision of the children of The Man Who Must Remain Nameless and Faceless to announce they will visit Pakistan and…' 'He has been in jail for around two years and my question is…' 'Tempers are running high and there is talk of not issuing them a visa and if they land up in the country to arrest them on charge of inciting violence…' 'If they incite violence'. 'Right, but their announcement coincides with the call by their dad to start a protest movement……' 'Perhaps their decision to meet their dad is not linked to the call for protest.' 'Perhaps, but don't the sons have a NICOP? I mean, that would allow them to retain their British nationality and not require a visa!' 'Don't know but…' 'There is no but, and if The Third Wife could mobilize party supporters, then just imagine how many supporters would be mobilized if his children…' 'And she did it without showing her face to the supporters.' 'What relevance would that have?' 'I mean Gandapur could have veiled any woman and…' 'Don't be facetious, he would not have dared. I mean, she would have cried foul and…' 'Ï would spell that with a w.' 'What?' 'Foul as in fowl.' 'Don't be facetious anyway we believe in dynasty, people still vote for Benazir Bhutto in Sindh and…and…' 'Yeah, Punjab's Form 47…' 'Shut up. But when I said I don't understand the move, I was referring to President Trump's insistence that he has been trying to mediate peace in the Ukraine Russia war by calling for an immediate ceasefire. I mean the US has been supplying without a pause, OK one pause was for less than a few days, anyway he has been supplying billions of dollars of military equipment to Ukraine since 2022 when the war started, and in spite of that the Russians are winning, so how can a country which is party to a conflict take the dual role – that of a mediator as well as a party to the conflict?' 'Haven't you learned anything yet? The dual hatted are in a class of their own!' Copyright Business Recorder, 2025
Business Recorder
05-07-2025
- Business
- Business Recorder
Overseas Pakistanis to be taxed as filers on property deals
ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that the rate of advance income tax on purchase and sale of immovable properties by overseas Pakistanis would be 'filer rate' even if they are 'non-filer'. The FBR has issued frequently asked questions (FAQs) about the tax rates on buying and selling of immovable properties by overseas Pakistanis. According to the FBR, for overseas Pakistanis the rate of advance income tax on purchase and sale of immovable properties under sections 236C and 236K shall be 'filer rate' even if they are 'non-filer' subject to the following conditions:(I) They are holding POC or NICOP; (ii) They are non-resident in Pakistan meaning their stay in a financial year in Pakistan is less than 183 days. Investments in real estate: Overseas Pakistanis now eligible for exemption from higher tax rates The advance income tax under sections 236C and 236K at the time of transfer of immovable properties differ depending on the fair market value of the immovable properties, as well as the status of a person who has filed his income tax return and a person who filed late or did not file at all. The FBR explained that the overseas Pakistanis who are holding POC or NICOP can avail 'filer rate' under sections 236C and 236K by following procedure: The concerned Authority, Registrar or a housing Society who is responsible for registering, transferring or recording the immovable property shall click on the 'Overseas Pakistanis' link on FBR's web portal to create a PSID (payment slip identity). The system shall redirect the person to a form to declare his POC or NICOP No and the system will fetch automatically his details such as name and address; upload scanned copy of his POC or NICOP; and his status as 'resident' or 'non-resident' and can upload documents in support thereof. The system shall digitally make the PSID available in the IRIS digital inbox of the concerned Commissioner for approval. The Commissioner shall verify the documents attached, approve after verification and inform the person who created PSID by email and SMS. The system shall allow the person to make payment of advance income tax at 'filer rate' despite being a 'non-filer,' the FBR added. Copyright Business Recorder, 2025
Express Tribune
15-04-2025
- General
- Express Tribune
NADRA revises age guidelines for NICOP holders
Listen to article The National Database and Registration Authority (NADRA) has revised its guidelines for age modification requests on National Identity Cards for Overseas Pakistanis (NICOP). The updated rules allow applicants to request changes through the Pak ID mobile app, at NADRA offices, or via Pakistani embassies abroad. Eligibility and Documentation The eligibility for age changes depends on the degree of modification and supporting documents: Up to five years (first time only) — Requires a Pakistani passport, matriculation certificate, recent mark sheet, or service book. Second-time changes (up to 366 days) — Needs a Pakistani or foreign passport, resident permit, or matric certificate. Age changes based on birth certificates — Permitted up to one year using inland or foreign birth records. Unnatural sibling age difference (under seven months) — Up to one year change allowed without documents. Fee Structure NADRA has set varying fees based on the requested age difference: Up to 1 year: USD 5 1 to 2 years: USD 25 2 to 3 years: USD 40 Over 3 years: USD 65 Second modification attempt: USD 125 NADRA stated that the process ensures transparency and accessibility for overseas applicants. Earlier Notice Previously, NADRA clarified that birth, death, and marriage registrations are governed by provincial laws and handled by Union Councils.
