The Supreme Court has issued a ban on paying 100% tax on income from immovable property. While hearing the petitions against the imposition of tax on foreign assets, the court ordered the parties to pay 50 percent tax on immovable properties while issuing an injunction against paying 100 percent tax.
The judgment shall not apply to immovable property. During the hearing, Chief Justice Umar Attabandial remarked that the country is currently facing financial difficulties, to improve the foreign exchange, the money that is lying abroad should be kept in the country.
We all have a responsibility to cooperate in these situations. The Chief Justice said that we can understand the constraints of the government, whatever the court has to do, it should be done according to the constitution and the law. The shortcomings of this new tax system have to be seen.
