Thursday, 28 March 2013

Nawaz pays Rs 2.7 million tax on agriculture income in three years

PML-N Quaid Mohammad Nawaz Sharif paid Rs 2.7 million tax on his agriculture income during the past three years on Friday to become eligible for contesting 2013 general elections, sources toldBusiness Recorder here on Wednesday. They said Nawaz Sharif had earned Rs 18.64 million agriculture income but had paid only Rs 85,250 as a land based tax during the past three years.

He paid Rs 23,500 in 2010, Rs, 23,500 in 2011 and Rs 38,000 in 2012. Sources said it was only after addition of a new condition in the nomination form to pay tax on agriculture income that Nawaz Sharif had to pay tax on his agriculture income. Shahbaz Sharif paid Rs 2.43 million on agriculture income of Rs 16.45 million during 2012 besides Rs 22,500 land based tax.

It may be added that the Election Commission of Pakistan (ECP) has made it mandatory for the candidates of National and Provincial Assemblies to give a statement about the agricultural income tax paid by the candidate during past three years. Tax experts said the new nomination form has paved the way for payment of agriculture tax by the large land holders on their income instead of land based nominal tax and promote the tax culture in the country. The agriculture sector contributes nearly 22 percent to the GDP but its contribution to the tax net is insignificant.

Sources said that the candidates are finding it difficult to fill the forms and are thronging the office of tax lawyers for help since most of the candidates are not known to filing their tax returns and obtain national tax number. The candidate would have to give details of immovable, moveable property, including bonds, shares, certificates, securities, insurance policies and jewellery. The immovable property includes open plots, houses, apartments, commercial buildings, under construction property. The candidate would also have to give details of his immovable property in Pakistan and outside Pakistan, and business capital in and outside Pakistan, assets brought to Pakistan or remitted from a country.

Political observers said that the candidate would also have to administer oath to fulfils the qualifications specified in Article 62 of the Constitution and he is not subject to any of the disqualifications specified in Article 63 of the Constitution or any other law for the time being in force for being elected as a member of the National Assembly/ Provincial Assembly and that no case of criminal offences was pending against him six months prior to filing of nomination form.

The ECP has set the period of filing of nomination papers from March 24 to 29 while the process of scrutiny of the candidates would be done from March 30 to April 05. The candidates would be able to file appeal from April 06 to 09, in case, their nomination papers were dismissed. The ECP would dispose of all the appeals by April 16. The candidates could withdraw their nomination forms till April 17. The final list of the candidates would be issued on April 18. The polling will be held on May 11, 2013.
Original Article Here

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